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Traders See More Upside For Uber, After Stock Spikes 12% On Tuesday Following Earnings

Published 02/11/2022, 12:20
Updated 02/11/2022, 13:40
© Reuters.  Traders See More Upside For Uber, After Stock Spikes 12% On Tuesday Following Earnings
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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.

Check out other stocks making moves in the premarket.

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.

Now Read: Tesla Reportedly Shutter Its 1st Showroom In China As Elon Musk Company Rejigs Strategy Amid Softening Demand

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