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Benzinga
Benzinga
Business
Priya Nigam

Traders Are Betting GoDaddy Will Continue Climbing

On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that GoDaddy Inc (NYSE:GDDY) traded around 6 times its average daily call volume on Monday.

This was amid low volume in the overall options market, Khouw mentioned.

The most active were buyers of the January 85 calls, for an average price of $1.91 per contract, he added.

“Buyers of those calls are obviously betting that this recent spike could continue through the third week of January, and they are looking for prices above $87 a share,” Khouw said.

GDDY Price Action: Shares of GoDaddy had surged 8.33% to close at $82.35 on Monday.

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