Alibaba Group Holding Limited's (NYSE:BABA) shares edged higher on Monday despite a sharp decline in the broader markets.

On CNBC's "Options Action," Mike Khouw of Optimize Advisors said Alibaba was one of the busiest single stocks on Monday and there were 2x more calls than puts.

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There was a buyer of 2,250 of the December 30 95-calls, at an average of $5.19 per contract. The trader bet $640,000 that Alibaba's stock will rally 11% by the end of the month.

BABA Price Action: Shares of Alibaba rose 0.5% to $90.52 in the regular trading session on Monday, but slid lower by 0.1% in after-hours trading.
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Photo: Courtesy of alibaba.com