With Twitter Deal In Motion, Stock Closes At Highest Level Since Proposal

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Twitter Inc. TWTR traded at 1.4 times its average daily call volume on Tuesday. Traders expect the deal to close by the end of the week, he added.

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There were buyers of 41,000 of the October 28 weekly 54 calls at an average price of 13 cents per contract, Khouw mentioned. “Please do not pay more than 20 cents for these 54 strike calls,” he recommended.

TWTR Price Action: Shares of Twitter rose by 2.41% to close at $52.78 on Tuesday.