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.
Costco $COST just reported July Net Sales of $20.89 Billion up 8.5% YoY https://t.co/9IjPnUsQdB
Costco $COST strong bounce and saw buyers of 400 December $1040 calls at $28.85 to $30.25
$COST Costco July US Comparable Sales Ex-Gas, FX +6.5%: Snapshot https://t.co/GTggmHJNcX