Uber Technologies Attracts Bullish Bets Ahead Of Earnings

Shares of Uber Technologies Inc. UBER rose during the trading day and in the after-hours session, as the ride-share giant prepares to report its fourth-quarter earnings after markets close Wednesday, Feb. 8.

On CNBC’s “The Final Call,” Michael Khouw of Optimize Advisors said that Uber Technologies had a “spectacular beginning to the year,” with its stock up by about 7% since Wednesday (Feb.1). Options trading on Friday implied a move of at least 11%, he added.

Check out other stocks making moves in the premarket.

There were buyers of 7,950 of the Feb. 10 weekly 32.5 calls (early last week), at an average price of $1.18 per contract, Khouw mentioned.

Carter Worth of Carter Braxton Worth Charting LLC said that one could not find a better chart. Uber’s share price has “moved above the well-defined downtrend line,” he explained.

UBER Price Action: Shares of Uber Technologies were trading 0.48% higher during Monday’s premarket session at $33.25.

Now Read: Over $5M Bet On Uber Technologies? Check Out These 4 Stocks Insiders Are Buying

Photo: Shutterstock

Image and article originally from www.benzinga.com. Read the original article here.