BBBY: A Big Long-Term Bullish Bet

A large bullish options bet was registered on Friday on BBBY at 07:29am PST. A trader purchased deep in the money Jan’20 calls paying almost $5m for the bet. This is a high conviction trade by a long-term investor.

This is a new bet since the Volume at $12.5 strike was much higher than the Open Interest.

Technically, the price has recently broke up from a consolidation and there is little resistance up to $19-20 level.

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