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Aug 6, 03:03 PM
Meta Surges Above 766 with March 1040 Calls; Costco Posts $20.89B July Sales, Alibaba Up 3% on March 105 Puts
Company Earnings
Stocks
Business

Meta Surges Above 766 with March 1040 Calls; Costco Posts $20.89B July Sales, Alibaba Up 3% on March 105 Puts

Authors
  • Evan
  • Cheddar Flow
  • The_Real_Fly
9

Meta Platforms Inc. ($META) has shown renewed bullish momentum after recovering from a dip last Friday, with its stock price moving back above the 766 level. Market participants have noted strong call option activity, including the purchase of 600 March 1040 calls at $14.10 and millions of dollars worth of long-term equity anticipation securities (LEAPS). Analysts and traders have expressed optimism about Meta's potential to reach the 780 price level. Separately, Alibaba Group Holding Ltd. ($BABA) shares rose 3% amid the sale of 1,000 March 105 puts at around $6.20, supported by a recent bull flag formation and upcoming earnings later this month. Costco Wholesale Corporation ($COST) reported solid comparable sales growth of 7.0% in June excluding gas and foreign exchange effects, with e-commerce adjusted comps up 14.9%. For July, Costco's U.S. comparable sales excluding gas and FX increased 6.5%, while net sales reached $20.89 billion, marking an 8.5% year-over-year increase. The stock also experienced a strong bounce, accompanied by the purchase of 400 December 1040 calls priced between $28.85 and $30.25.

Written with ChatGPT (GPT-4).

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