Business Magazine

58.com Calls In Play As Shares Rally

Posted on the 26 June 2014 by Phil's Stock World @philstockworld

Call options on 58.com are active today amid strong gains in shares of the operator of an online marketplace in China. WUBA shares are currently up almost 9.0% on the session, trading at $49.95 and the highest level since March. July expiry calls are seeing the most volume this morning, with the July 50.0 and 55.0 strike contracts trading more than 1,700 and 1,200 times respectively. Most of the 50.0 and 55.0 strike call options appear to have been purchased at average premiums of $1.83 and $1.00 in the early going. The Aug 55.0 strike calls are also changing hands, with more than 650 of those calls in play against zero open interest. It looks like most of the Aug 55.0 strike calls were purchased at an average premium of $1.95 each, positioning buyers to profit at expiration should shares in 58.com rally another 14% to exceed the breakeven price of $56.95. Second-quarter earnings from the China-based company are expected to be released in August.


This article will become free after 48 hours (see below for free content). To read the rest of this article now, along with Phil's live intra-day comments, live trading ideas, Phil's market calls, additional member comments, and other members-only features - Subscribe to Phil's Stock World by clicking here.


    Tags: WUBA

This entry was posted on Thursday, June 26th, 2014 at 1:43 pm and is filed under Uncategorized. You can leave a response, or trackback from your own site.

Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

Paperblog Hot Topics

Magazines