Bath & Body Works (BBWI) ramps higher on call option activity

Shares of Bath & Body Works, Inc. (NYSE: BBWI) gained nearly 9% Monday as traders pointed to notable call option activity, specifically the Jan 37.5 calls.

Susquehanna options strategies highlighted that an opening investor sold 30k Jan 37.5 (.37d) calls at $1.09.

"The investor generates 3% yield on the stock for being willing to sell 3 mln shares on a 6.5% rally over the next month and a half," the analysts highlighted.

Further, it was noted that only top 15 holders would have enough shares to do the trade as a covered overwrite.

You May Also Be Interested In

• Citi upgrades Bath & Body Works to Buy with $25 price target
• Bath & Body Works rises as Citi upgrades stock ahead of earnings
• Snowflake (SNOW) call put ratio 2 calls to 1 put amid price movement