Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in JD.Com Inc (NASDAQ:JD). He noticed a purchase of 2,000 contracts of the August 7, $65 calls. Traders paid around 75 cents for them, which sets the breakeven for the trade at $65.75 or around 3.8% above the current stock price. The expiry doesn't capture earnings event.
Najarian also noticed some short-dated activity in HSBC Holdings plc (NYSE:HSBC) as around 4,000 contracts of the August 7, $23 calls were traded in the first half of the session on Friday. It looks to him that somebody thinks earnings results are going to be pretty good. If the company says anything positive on earnings, the stock could bounce off its 52-week lows, thinks Najarian.
He also gave his opinion on Eastman Kodak Company (NYSE:KODK). He is fascinated by the trading volume, but he would stay away from this name.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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