Roblox Corporation RBLX shares rose sharply on Wednesday.
The San Mateo, California-based company reported better-than-expected Q4 sales results.
On CNBC’s "Options Action," Kevin Kelly of Kelly Intelligence said 12.5% move was expected for Roblox on Wednesday, but the stock actually surged over 26% following earnings.
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A trader sold 3,000 of the March 24 weekly 28-puts at an average of 13 cents per contract, and bought 2,000 of the June 50-calls at an average price of $5.20 per contract, Kelly mentioned.
The traders expect Roblox’s stock rising at least 22% by June expiration.
Price Action: Shares of Roblox gained 26.4% to close at $45.08 on Wednesday, and lost 0.2% in the after-hours trading session.
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