The market may be focused on the Coronavirus, but that didn't stop an usual amount of trade activity from occurring in Uber (UBER) options. The ride share company is known for losing lots of money, but the most recent earnings were quite optimistic. The CEO expects the company to turn a profit by the end of the year and the fourth quarter losses were narrower than expected.
Someone was inspired by the news and bought 2,400 long-term call spreads that make money above $43.50 all the way up to $60 by January 2021. The trade was partially financed by selling puts. If you want to do a similar trade but cheaper and safer, you can do a narrower call spread and not use the short puts component of the trade.
