Trade of the Week: Another Look at NIO

11/19/2020 10:00 am EST

Focus: MARKETS

Jay Soloff

Options Portfolio Manager, Options Floor Trader PRO

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.

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