TradeAlert · UBER - Opening put buyer gets into Uber. Trader on the Amex paid 45c for 10K Nov 25 puts this afternoon as shares traded $32. Opens a new position 21% below spot, expiring in 50 days and will capture earnings in early Nov
Uber is a dog. Take it down. How do you lose billions on a taxi company that requires it's drivers to supply their own vehicles and gas? Weirdest phenomenon in quite a long while.
Did he also buy 89k shares to be delta neutral? Maybe they are about to announce a special dividend to unload some of that Billions of dollars.
Who's long UBER? Or short the puts? Lockup expiration is Wednesday.... it could get ugly. Over a billion shares now eligible to hit the market for the first time. You gotta think there's gonna be a ton of early investors itching to sell this dog. Earnings are tonight too. Pfff, I don't even want to look at how expensive the puts must be. Ahhh.... the $30's are $1.80. About a 15% straddle +/-... Hmph. Fun to watch this one from sidelines this week.