On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Uber Technologies (NYSE:UBER) Inc. (NYSE: UBER) traded at 3.5 times its average daily volume on Tuesday. The stock got busy after the company reported stellar results for the third quarter.
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There were buyers of 23,791 of the Nov. 4, weekly 30 calls at an average price of $1.00 per contract, Khouw mentioned. Traders expect shares of Uber Technologies to rise by at least 4% by Friday's expiration, he added.
UBER Price Action: Shares of Uber Technologies spiked 11.97% to close at $29.75 on Tuesday. Analysts unanimously recommend doing this with Uber's stock.
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