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Uber Technologies UBER shares surged 5.5% on Wednesday after the company reported better-than-expected fourth-quarter sales results. Lyft, Inc. LYFT is scheduled to report quarterly earnings after the closing bell on Thursday.
On CNBC’s “Options Action,” Kevin Kelly of Kelly Intelligence said options markets are implying a move of 19% in Lyft’s shares going into earnings versus an average move of 5.8%.
There were 1.6x more calls than puts on Wednesday, Kelly said.
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There were buyers of 2,228 of the February 10 weekly 18.50-calls at an average price of 73 cents per contract, Kelly mentioned.
The traders expect Lyft’s stock rising around 10% by Friday.
LYFT Price Action: Shares of Lyft dropped 6.6% to close at $16.75 on Wednesday, and added 1.9% in the after-hours trading session.
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Photo via Shutterstock.
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Image and article originally from www.benzinga.com. Read the original article here.