Oracle (ORCL) has been in the news quite a bit lately with its potential partnership with Tik Tok, a popular teen video streaming app, explains Jay Soloff of Investors Alley.
The US wants China’s ByteDance to sell Tik Tok to a US company due to national security concerns. Several companies have been in the bidding, but ORCL seems to have won out with a partnership deal—at least for now. One trader doesn’t think the deal will be resolved until at least early next year and made a large bet using options that ORCL will stay in a range until then.
Learn more about Jay Soloff at InvestorsAlley.com.
