Options News
$TLRY bulls keep rolling fat profits
It took just over a month for upside call positions in Tilray (TLRY) to roll higher. On Jan. 6, Market Rebellion’s Unusual Option Activity Service identified the purchase of 3,300 February $15 calls for $0.70 to $0.90 with shares at $11.17. This represented fresh buying, as volume was well above the strike’s previous open interest of […]
It took just over a month for upside call positions in Tilray (TLRY) to roll higher.
On Jan. 6, Market Rebellion’s Unusual Option Activity Service identified the purchase of 3,300 February $15 calls for $0.70 to $0.90 with shares at $11.17. This represented fresh buying, as volume was well above the strike’s previous open interest of 718 contracts.
Those calls traded for as much as $29.00 this session, or at least 32 times their purchase prices. The stock rallied 298.93% in the same time frame, showing how quickly options can far outperform their underlying shares.
It marks the second winning trade in the name posted on Market Rebellion in the last week.
Long calls lock in the price where investors can buy a stock, letting them position for a rally at limited cost with the potential for significant leverage. They carry less risk than owning shares because the most that can be lost is the price of the options no matter how far the stock might fall.
TLRY closed the session up by 40.74% at $42.35, a new 52-Week closing high for the cannabis producer, which announced this morning an import, distribution agreement with Grow Pharma in the United Kingdom.