Trader Bets $40 Million That Meta’s 158% Rally to Keep Going
- Trader wagers Meta’s share price has room to almost double
- Positions likely connected as part of a broader strategy
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An options trader wagered $40 million that Meta Platforms, Inc.’s 158% rally this year has plenty of room to run.
The spread trade — involving more than 26,000 contracts of call options allowing the buyer to pick up shares at $320 each by Jan. 17, 2025 — was countered by selling about 52,000 of $600 calls expiring in December of that year.