On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Bed Bath & Beyond Inc BBBY traded 7.8 times its average daily volume on Tuesday. “The flow is only about 65 million shares. The options volume represents about 3 times the flow,” he added.
Check out other stocks making moves in the premarket.
There were buyers of 100,000 of the January 2023 weekly 80-calls at an average price of $3.85 per contract, Khouw mentioned. Traders see a 306% upside in Bed Bath & Beyond’s shares by January expiration.
BBBY Price Action: Shares of Bed Bath & Beyond shares gained 29.06% to settle at $20.65 on Tuesday.
Photo: Courtesy of Mike Mozart on flickr
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.