Options Corner: ORCL Rally, Connection to TikTok

Oracle (ORCL) shares continue to rally after its latest earnings, but Tuesday's move is connected to TikTok. The company is reportedly tied to a group of companies looking to gain control of TikTok's U.S. operations. Rick Ducat describes the high conviction move taking place on the ORCL chart. He indicates that its RSI momentum study is turning down from recent overbought conditions and that $260 is acting as a near-term support area. Later, Tom White composes an example options trade for ORCL. He uses a put vertical strategy to demonstrate a neutral to bullish stance.

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