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HomeTrading StrategiesChoices Merchants Goal Tencent Music Leisure Inventory

Choices Merchants Goal Tencent Music Leisure Inventory

The China-based firm is on its strategy to repurchasing billions value of shares

Choices merchants are concentrating on Tencent Music Leisure Group (NYSE:TME) right this moment, because the inventory jumps to its highest stage since July 2021. The China-based firm yesterday repurchased 3.27 million shares for $1 billion, after final month saying its intention to purchase again a minimal of $12.8 billion this yr. The inventory additionally obtained a lift final week after boosting its promoting enterprise with synthetic intelligence (AI). 

Up to now right this moment, 11,000 calls and three,301 places have been exchanged, which is 2.6 occasions the common each day choices quantity already. The January 2025 15-strike name is the most well-liked, adopted by the July 12 put, with new positions opening at each. 

These choices merchants are in luck, as TME premium in all fairness priced for the time being. That is per its Schaeffer’s Volatility Index (SVI) of 40%, which ranks within the low ninth percentile of its annual vary. 

Eventually look, TME was up 2% at $11.82. The inventory has been carving a path greater since early October, with assist from its 60-day transferring common catching the steepest pullbacks. For the reason that begin of the yr, the fairness is up 31.2%. 

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