Tesla, Inc. TSLA was unable to hold on some early gains and recorded losses for the fourth straight session on Wednesday.
On CNBC’s “Options Action,” Dan Nathan of Risk Reversal said Tesla traded at 1.3x average daily volume on Wednesday.
Don’t forget to check out our premarket coverage here.
There was a seller of 12,500 of the January 166.7-calls at an average price of $3.05 per contract, Nathan mentioned. He used some of the proceeds to buy 12,500 of the February 160-calls at an average price of $8.35 per contract.
The trader expects Tesla’s stock to rally at least 20% by February expiration.
TSLA Price Action: Tesla shares were trading down 5.82% at $129.56 Thursday morning.
Check This Out: Bit Brother, Shineco And Other Priciest Majors In The Consumer Staples Sector
Photo via Shutterstock.
Image and article originally from www.benzinga.com. Read the original article here.