Taiwan blocked Uber's buyout of foodpanda
Uber Technologies Inc (NYSE:UBER) stock is down 0.2% at $61.58 at last glance, after Taiwan's Fair Trade Commission (FTC) blocked the acquisition of food delivery business foodpanda, which is owned by Germany's Delivery Hero. Officials said the buyout could have restricted competition in the region.
Despite this snub, UBER is still on track for a weekly gain and has support from the $60 level. The shares carry a 19.8% year-to-date deficit, though, and have not closed above their 30-day moving average since late October.
Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Uber Technologies stock's 50-day call/put volume ratio of 2.93 sits higher than all readings from the past year. This means options traders have been much more bullish than usual.
It’s also worth noting that options are affordable, per the security's Schaeffer’s Volatility Index (SVI) of 33%, which ranks in the extremely low 9th percentile of its annual range.