Alibaba Stock Surges on Upbeat Quarterly Results

Core Insights - Alibaba Group Holding Ltd's stock increased by 12.8% to $141.92 following a quarterly profit rise driven by strong cloud and e-commerce growth, surpassing estimates [1] - The company reported a 13% year-over-year sales increase and exceeded revenue expectations for the fiscal third quarter [1] Stock Performance - After an eight-day winning streak, Alibaba's stock is set to continue its gains with the largest single-day percentage increase since March 2023 [2] - The stock is at its highest level since November 2021 and significantly above all short- and long-term moving averages [2] - Over the past 12 months, Alibaba's stock has appreciated by 91%, with a 69% increase year-to-date [2] Options Activity - Options traders are showing a bullish sentiment towards Alibaba, indicated by a 50-day call/put volume ratio of 4.66, which is higher than 78% of readings from the past year [3] - Today's options activity includes 407,000 calls and 139,000 puts, which is five times the typical volume for this time [4] - The most popular options contract is the February 140 call, with new positions being opened [4]