Meta Options Traders Bet On Stock Recovering Some Losses By Friday

Several big names are scheduled to report earnings results this week, with Meta Platforms, Inc. META, eBay Inc. EBAY, Roku, Inc. ROKU and United Rentals, Inc. URI set to release quarterly earnings Wednesday.

United Rentals is implying a move of +/-5.9% post the release of earnings, with eBay also seeing a move of +/-6.3%. Markets are implying a move of +/-10.2% in Meta’s stock, while Roku is expecting a move of +/-13.9% post earnings.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said some bullish activity was seen in Meta Platforms.

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There was a buyer of 915 of the April 28 weekly 220-calls at an average price of $5.20 per contract, Khouw mentioned.

The trader expects Meta’s stock to recover some losses by the end of the week.

Meta Platforms CEO Mark Zuckerberg recently told employees that he would not rule out future layoffs and does not expect the social media company to hire as quickly as before in a virtual Q&A session on Thursday, a day after the company completed its latest round of layoffs.

Price Action: Meta’s shares fell 2.5% to close at $207.55 on Tuesday, while eBay added 0.3% to $44.01. Roku fell 2.3% to settle at $57.72, while United Rentals shares lost 1.6% to $377.64 during the session.

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Posted In: EarningsLong IdeasNewsOptionsTop StoriesMarketsMediaTrading IdeasCNBCMike KhouwOptimize AdvisorsOptions Action
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