Data confirms customer adding to massive short-term downside hedge in Uber. One of the most active single stock options Friday was the Uber Jan 23 strike put, with 87k trading from 14 to 26c and Cboe open-close data confirming an opening customer buyer driving the action. Appears to add to a large position bought to open in November near 56c. Current open interest in the 11-day, 13% downside contracts is over 190k contracts, equivalent to 19M shares which is the entire average daily share volume in the name. Unclear if there is a catalyst, earnings for both Uber and Lyft due in early Feb.
Published first on TheFly
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