UPS Option Trader Bets $3M The Stock's Huge Rally Isn't Over

[cheryl]

UPS Option Trader Bets $3M The Stock's Huge Rally Isn't Over - Benzinga

United Parcel Service, Inc. shares are up 70.4% in the past three months. The delivery giant appears to have gotten a boost from shelter-in-home environment, and at least one large option trader is making a huge bet on more upside ahead.

The UPS Trades: On Monday, Benzinga Pro subscribers received two option alerts related to unusually large UPS trades:

• At 9:39 a.m., a trader bought 346 UPS call options with a $162.50 strike price expiring on Friday above the ask price at 88.3 cents. The trade represented a $3,055.18 bullish bet.
• At 12:05 p.m, a trader bought 750 UPS call options with a $120 strike price expiring on Jan. 15 2021 at the ask price of $42.25. The trade represented a more than $3.16 million bullish bet.

Why It’s Important: Even traders who stick exclusively to stocks often monitor option market activity closely for unusually large trades. Given the relative complexity of the options market, large options traders are typically considered to be more sophisticated than the average stock trader.

 

[Up In Smoke]

If I could quote the great Chris "Boomer" Berman "Some spread eh".