Shares of Twitter Inc (NYSE:TWTR) Tuesday jumped more than 27% after Tesla Inc (NASDAQ:TSLA) CEO Elon Musk disclosed a 9.2% stake in the micro-blogging site.
On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that Twitter traded more than 20 times its average daily volume on Tuesday.
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With over 1.56 million contracts being traded, Twitter become the busiest single-stock option, he added.
Check out other stocks making big moves in the premarket.
There were buyers of 190,000 of the April 8 weekly 50 strike calls for an average price of $2.15 per contract, Khouw said. The buyers of these contracts are betting that the stock rises at least another 4% by Friday, he added.
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