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Barchart
Barchart
Mark R. Hake, CFA

Unusual Put Options Activity in UBER Technologies Could Imply Upside in UBER Stock

Uber Uber Technologies TTM Yahoo Finance

Unusually high put options volume today in Uber Technologies (UBER) could augur well for UBER stock. The strike price is over 18% below today's price, or "out-of-the-money." It could be initiated by UBER short-put sellers looking for yield and a potentially lower buy-in point.

UBER is up about 3% in midday trading at $67.85, after closing at a 6-month low of $65.92 on Friday. However, it's well off a recent closing peak of $79.17 on May 6.

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