It may sound like a broken record, but there has once again been a massive amount of options action in Nio (NIO). The Chinese electric vehicle company is up an eye-popping 1,100% so far this year, as it continues to impress investors with robust growth numbers, observes Jay Soloff of Investors Alley.
Perhaps even more impressive, two million options contracts traded in a single day as a Chinese electric vehicle competitor posted better-than-expected revenue numbers for the quarter. One large trade possibly involved a trader selling calls against held shares of NIO stock.
Learn more about Jay Soloff at Investors Alley.
