JD.com Options Trades Suggest More Gains To Come

JD.com Options Trades Suggest More Gains To Come

JD.com Inc JD on Wednesday posted its slowest revenue growth on record.

On CNBC's "Options Action," Tony Zhang of Options Play said that JD traded more than 4.9 times its average daily put volumes on Wednesday.

Check out other stocks making moves in the premarket.

There were sellers of 20,000 of the September weekly 46.26-puts at an average price of $14.57 per contract and buyers of 20,000 of the December weekly 50-calls at an average price of $13.72, Zhang mentioned. Traders taking profits on the September contract and rolling into longer-term contracts suggest that they are bullish about JD’s stock, he added.

JD Price Action: Shares of JD gained 3.92% to settle at $59.44 on Wednesday.

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Posted In: CNBCOptions PlayTony ZhangLong IdeasOptionsMarketsMediaTrading Ideas