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Traders Anticipating Big Rally Ahead For Bed Bath & Beyond

Published 17/08/2022, 13:37
© Reuters.  Traders Anticipating Big Rally Ahead For Bed Bath & Beyond
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On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Bed Bath & Beyond Inc (NASDAQ: BBBY) traded 7.8 times its average daily volume on Tuesday. “The flow is only about 65 million shares. The options volume represents about 3 times the flow,” he added.

Check out other stocks making moves in the premarket.

There were buyers of 100,000 of the January 2023 weekly 80-calls at an average price of $3.85 per contract, Khouw mentioned. Traders see a 306% upside in Bed Bath & Beyond’s shares by January expiration.

Also Read: If You Invested $1,000 In Walmart (NYSE:WMT) Stock At Its IPO, Here's How Much You'd Have Now

BBBY Price Action: Shares of Bed Bath & Beyond shares gained 29.06% to settle at $20.65 on Tuesday.

Photo: Courtesy of Mike Mozart on flickr

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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