Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Priya Nigam

Investors Bet On Roblox User Growth Paying Off

Shares of Roblox Corp (NYSE:RBLX) climbed more than 3% despite a top- and bottom-line miss. Investor sentiment was boosted by the company’s strong user growth.

On CNBC's "Options Action," Tony Zhang said it was a “rollercoaster day” for Roblox’s stock on Wednesday, which traded nearly 5 times its average daily volume.

There was a buyer of 18,000 of the January 2024 17.5/30/65 calls spread risk reversals at 25 cents per contract on average, Zhang mentioned. Check out other stocks gaining favor in the premarket.

“This is a very long-dated January 2024 bullish view targeting $65 to the upside and committing $31 million in capital to purchase 1.8 million shares if does fall down to that $17.50 put strike,” he said.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.