Options Traders Expect Cannabis ETF Will Reach This Level By January Expiration

AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) rose sharply on Wednesday.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said AdvisorShares Pure US Cannabis ETF traded about eight times its average daily options volume on Wednesday.

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Traders bought 1,950 of the January 6-calls at $1.17 and sold 3,900 of the January 10-calls at 42 cents, Khouw mentioned.

Traders see MSOS hitting the $10 level by January expiration.

Price Action: AdvisorShares Pure US Cannabis ETF jumped 21.2% to close at $5.88 on Wednesday.

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