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Mike Khouw spoke on CNBC's Options Action about increased options activity in Twenty-First Century Fox Inc (NASDAQ:FOXA). He said that the call options volume was four times higher than the average call options volume and there was an institutional buyer of the May 31 calls.
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Around 7,000 contracts of the May 31 calls were bought for $0.75. The trade breaks even at $31.74 or around 4.5 percent above the current stock price. Khouw added that it looks like the trader is expecting a rebound in the name after a poor performance in April.
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.