Options traders are betting on an Uber surprise to the upside on earnings

"So, the options market is implying that Uber is likely to move 9% up or down by Friday after they report."

As for which direction the options market is expecting to move, that answer can be found by looking at the most popular contracts trading on the day. "As has generally been the case for Uber, the flow has been somewhat bearish," Khouw said, "but interestingly, today we actually saw more calls than puts. That hasn't typically been the case."expiration 45-strike calls. Those contracts were trading at a discount compared with other contracts, at just 20 cents apiece. They also represent something of a pie-in-the-sky scenario for Uber, breaking even 14% above where the stock closed on Wednesday.

"I think what might be going on here was that somebody was saying, 'these are cheap lottery tickets in case Uber gives us a positive upside surprise,'" said Khouw.Uber shares were trading 6.5% higher on Thursday at $42.28.

Uh-oh. Look out below. Uber shares -11% after hours. Big miss. EarningsSeason Uber .Uber

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market relief; Lyft and Uber; Oil boostToday's top business headlines: - Markets could face another 'bearish black hole' - Equinox owner's planned Trump fundraiser causes outrage - FedEx will no longer offer ground delivery to Amazon - Walgreens to close 200 locations in the US I love CNN news ❤😘 Glad to see Walgreens tailing. Should have been more like CVS and focused on health, the profits will follow, instead they as a health store continued to sell stuff that’s horrible for you. What hell, FedEx? But no, really, why? O_o
Source: CNN - 🏆 4. / 95 Read more »

Stocks making the biggest moves after hours: Lyft, Uber, Roku and moreSee which stocks are posting big moves after the bell on August 7.
Source: CNBC - 🏆 12. / 72 Read more »

Lyft will move double digits on earnings, says the options marketOptions traders are expecting a big move in Lyft when it reports earnings Wednesday afternoon for only the second time as a publicly traded company. 👀👀👀
Source: CNBC - 🏆 12. / 72 Read more »

MTV Parent Viacom Reports Better-Than-Expected Q3 EarningsViacom, the company behind Paramount Pictures and such cable networks as MTV, Nickelodeon, BET, Comedy Central and Paramount Network, on Thursday reported better-than-expected fiscal third-quarter earnings. Viacom NewYorkCity MediaEntertainment
Source: billboard - 🏆 112. / 63 Read more »