Notable profits for the buyer who lifted the $5.00 offer for 1,994 Pinduoduo (PDD) 8/29 weekly 120 puts yesterday at 12:30ET when underlying shares were trading at $119.73. Shares closed at $118.34, and the puts at $5.77 for a mark-to-market profit of 15%, or $154K, on the $997K outlay.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PDD:
- Not Just Buffett and Burry, But This Billionaire Investor Also Bet Big on UnitedHealth Stock (UNH) in Q2
- Appaloosa takes new stake in Intel, exits positions in Wynn, Las Vegas Sands
- Tiger Global boosts stakes in Meta, Amazon, Microsoft, Nvidia, Reddit
- Pinduoduo call buyer realizes 12% same-day gains
- Option traders moderately bearish in Pinduoduo with shares down 1.06%
