On CNBC’s “Options Action,” Mike Khouw of Optimize Advisors said that KraneShares CSI China Internet ETF (NYSE:KWEB) traded around 3 times its average daily call volume on Thursday.
Calls outpaced puts by 3:1, Khouw mentioned. The most active were buyers of the Jan. 14 weekly 39.92 strike calls. There was a buyer of 9,000 contracts for an average price of 40 cents per contract, he added.
“The buyers of those calls are betting that the short-term rally that we’ve seen could continue over the next couple of weeks and we could see more moves like the one we saw today,” Khouw said.
