Bulls in the options market are flooding into Costco as they search for short-term gains
But some big box names are bucking the trend, and options traders are betting on one for even more gains ahead.shares are up more than 6% in August and the stock traded at more than six times its average daily call volume on Tuesday, with more than 60,000 contracts changing hands among traders.
"Earlier today we were seeing the 280 and 285 [strike calls], but as the stock appreciated, [traders] had to reach out for higher strikes. The strike I was looking at was the 292-and-a-halfs that expire on Friday. Roughly 3,300 of those traded at an average of $2.15, and ended up closing a little over $3."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What to watch today: Bond yields hit stocks, possible opioid deal, and China spies use LinkedInU.S. stock futures move in a narrow range between gains and losses this morning, following a Tuesday session that saw stocks give up a chunk of their Monday gains.
Read more »
Asian stocks post modest gains on Wall Street futures, oilAsian shares eked out cautious gains on Wednesday, as higher Wall Street futures...
Read more »
10 things you need to know before the opening bellThis is what traders are talking about.
Read more »
Coty sees revenue improving as turnaround plan takes shape; shares riseCoty Inc raised its 2019 revenue forecast on Wednesday, betting on a four-year r...
Read more »
33 Ice Cream Recipes to Chill With This SummerOur roundup of 33 ice cream recipes includes vegan options and dense Midwestern-style frozen custard.
Read more »