Yo era por hacer un favor... Lo adjunto en original.
Tilray Inc. (NASDAQ: TLRY) stock is down over 66% following it’s run to $67 on Feb. 25, when the company was targeted by r/WallstreetBets traders.
The meme stock has been trading in a consolidating range for the last few weeks, and options traders may be thinking Tilray stock is gearing up for another run.
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The Tilray Trades: At 9:42 a.m. Wednesday, a trader executed a call block of 300 Tilray options with a $30 strike price expiring on May 21. The trade represented a $69,900 bullish bet for which the trader paid $2.33 per option contract.
At 9:55 a.m., a trader executed a call sweep of 280 Tilray options with a $26 strike price expiring on April 16. The trade represented a $46,400 bullish bet for which the trader paid $1.66 per option contract.
At 10:27 a.m., a trader executed a call sweep of 217 Tilray options with a $25 strike price expiring on April 16. The trade represented a $38,800 bullish bet for which the trader paid $1.79 per option contract.
At 10:54 a.m., a trader executed a call sweep of 200 Tilray options with a $25 strike price expiring on April 16. The trade represented a $32,200 bullish bet for which the trader paid $1.61 per option contract.
At 10:58 a.m., a trader executed a call sweep of 317 Tilray options with a $23 strike price expiring on April 1. The trade represented a $34,900 bullish bet for which the trader paid $1.10 per option contract.
Together traders are betting over $222,200 the share price of Tilray is going higher.
Why It’s Important: When a sweep order occurs, it indicates the trader wanted to get into a position quickly and is anticipating an imminent large move in stock price.
A sweeper pays market price for the call option instead of placing a bid, which sweeps the order book of multiple exchanges to fill the order immediately.
These types of call option orders are usually made by institutions, and retail investors can find watching for sweepers useful because it indicates “smart money” has entered into a position.
When a block trade occurs, it indicates a hedge fund or institution has taken an options position.
A block trade always involves large sizing and is typically handled by a blockhouse outside of the open market. Since block trades don’t occur on the open market, the large size of the trades doesn’t create volatility in the stock being traded.
Like sweepers, blocktrades indicate “smart money” has entered a position.
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What Tilray Has Coming Up: Wednesday’s news of New York legalizing recreational marijuana gave many companies in the industry a boost.
Options traders may also be gearing up for Tilray’s merger with Aphria Inc. (NASDAQ: APHA), which is expected this quarter.
Furthermore, options traders may be hoping progress is made on the SAFE Banking Act in the Senate over the next few weeks.
TLRY Price Action: Shares of Tilray were trading up 3.99% to $22.92 at last check Wednesday.