Options Traders Anticipating Major Move For Bed Bath & Beyond In Coming Days

Options Traders Anticipating Major Move For Bed Bath & Beyond In Coming Days

Bed Bath & Beyond Inc BBBY is scheduled to announce turnaround plans on Wednesday to win back investor confidence.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Bed Bath & Beyond was the fourth most active single stock option on Tuesday.

Check out other stocks making moves in the premarket.

Also Read: Snap Reportedly Plans To Lay Off 20% Of Workforce Just Weeks After CEO Closed Deal For $120M Mansion

There were buyers of 38,939 of the September 2 weekly 15-calls at an average price of $1.63 per contract, Khouw mentioned. Traders expect shares of Bed Bath & Beyond to rally at least 37% by Friday, he added.

BBBY Price Action: Shares of Bed Bath & Beyond declined by 9.29% to settle at $12.11 on Tuesday.

Photo: Courtesy of Mike Mozart on flickr

Posted In: CNBCMichael KhouwOptimize AdvisorsLong IdeasOptionsSmall CapMarketsMediaTrading Ideas