Bullish
$UBER Large spreads in Uber suggest bullish long-term view. Stock near $28 at midsession Thursday, nearly $10 (66%) above last week's lows, with a burst of action on the Cboe, currently all-electronic, where a trader bought nearly 15K Jan22 35 calls for $5.88 and sold 9856 each of the Jan21 28 and 40 calls for 5.90 and 1.85. Long-dated 35 calls open, while the Jan21 28 and 40s may close existing positions. This spread was followed by a large put spread, also on Cboe, where a trader appears to have bought 10K Jan21 30puts for 7, to sell 15K Jan22 25 puts for 6.65. Similar to the calls, appears to roll an existion postion out a year. Directionally both adjustments suggest a bullish long-term view on the company, following last week's dip. #options #marketcolor #uber