The deal aligns with X CEO Elon Musk's goals
Visa Inc (NYSE:V) is partnering with social media platform X, formerly known as Twitter, to launch a digital wallet along with other products. The deal aligns with CEO Elon Musk's goal of having an application that offers a broader range of services. At last check, V was up 0.5% to trade at $335.71.
Visa stock yesterday scored a record high of $337.83, following its bounce off a long-term floor at the 60-day moving average a couple of weeks ago. The shares rose 26.3% in the last six months, and are today looking to notch their fourth win in the past five sessions.
At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), V's 50-day call/put volume ratio of 2.10 sits higher than all other annual readings. This indicates options traders have favored calls over the last 10 weeks.
Drilling down to today's options activity, 59,000 calls and 27,000 puts have already been traded, which is five times the intraday average volume. The most popular contract is the weekly 1/31 185-strike call, where positions are being opened.