Why Airbnb Stock Is Soaring Again on Thursday
For the second day in a row, shares of virtual hospitality provider Airbnb (NASDAQ: ABNB) are rallying as options traders (folks who buy the right to buy or sell a stock rather than just buying the stock itself) crowd into new positions.
Airbnb is a new IPO -- in case you haven't heard -- and today is only the second day options contracts have been available for traders to play with. As StreetInsider.com reports this morning, they're trading these options with abandon.
"Calls" (which give the trader the right to buy a stock at a set price in the future) are outselling "puts" (which allow a trader to sell his or her stock at a set price) by a 2.4 to 1 margin. And what this basically means is that...Airbnb stock is really popular right now.
Source Fool.com
