Visa Inc. (NYSE:V) shares rebounded sharply, closing slightly higher on Thursday.
On CNBC’s “Options Action,” Mike Khouw of Optimize Advisors said Visa traded at 2.7 times the average daily put volume and puts outpaced calls on Thursday.
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There were buyers of 2,906 and the average price was $3.13 per contract, Khouw mentioned. The trader sees Visa’s stock dropping at least 7% by the end of the month.
U.S. payment giants Visa and Mastercard Inc (NYSE:MA) paused plans to forge new partnerships with crypto firms. In November, Visa dumped its global credit card agreements with FTX within a month after announcing an expanded partnership with the exchange.
Price Action: Visa shares rose 0.5% to settle at $217.45 on Thursday and slipped 0.1% in after-hours trading.
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