Bullish option flow was detected in $META stock on July 27, 2022, after comments by Democrat Senate Majority Leader Chuck Schumer. In early trading, we are seeing $4.81 million in bullish option flow.
Schumer tells donors AICO Act unlikely to pass, Bloomberg reports
On July 27, 2022, Senate Majority Leader Chuck Schumer told donors at a fundraiser that the AICO Act to pare back the power of Big Tech companies doesn’t have the votes and is unlikely to pass, Bloomberg’s Emily Birnbaum reports, citing sources. The bill would prevent Apple (AAPL), Google (GOOGL), Meta Platforms (META), and Amazon (AMZN) from using their gatekeeper power to discriminate against rivals. Source: https://www.bloomberg.com/news/articles/2022-07-27/schumer-tells-donors-tech-antitrust-measure-is-unlikely-to-pass?sref=8QBk7toa
Bullish Option Flow In $META Stock
Make sure to review this lesson on option flow so that you understand the image above.
The October 21, 2022, $200 call option is seeing higher Open Interest trends.
Whale Trader Bets $1M On Meta Platforms Declining After Earnings Release
A whale trader sold 1,500 of the July 29 weekly 147 strike puts and then bought the same amount of the 160 strike puts at an average price of $1.47 per contract, Khouw said on CNBC’s “Options Action.” The trader is betting $1.1 million on a downside in Meta Platforms’s stock between now and August expiration, he added.
Notice, though, that the bearish bet is a short-term “roulette” trade.