Qualcomm Inc. ended the session at $194.23, up 9.29%.
A notable $8.73 million long call purchase on the June 17, 2027 $250.00 strike highlighted a session marked by aggressive upside positioning. With the stock rallying sharply, large options trades leaned entirely toward premium-paid upside exposure, reinforcing a bullish outlook despite premiums trading in an elevated volatility environment.
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Options Indicators
QCOM’s implied volatility is 55.82%, and with an IV percentile of 74.50%, current option pricing sits in an elevated zone rather than a neutral or cheap one. In other words, implied volatility is on the high side versus its own recent history, and the IV/HV ratio of 1.48 further suggests the options market is embedding materially richer forward volatility expectations than the stock’s realized volatility, indicating that premiums are relatively expensive at current levels. The Call/Put volume ratio is 4.15.
Large Trades
A call purchase worth $8.73 million stood out as the key large trade, with 4,500 contracts bought on the June 17, 2027 $250.00 strike. With QCOM referenced at $194.23, this call was out of the money at execution, making it a clear bullish directional bet that targets substantial upside over a longer-dated horizon. The use of long calls here suggests the trader was seeking leveraged participation in a future rally while keeping risk limited to the premium paid.
Overall, the large-trade flow points to a clearly bullish tone in QCOM. The entire displayed block activity was concentrated in premium paid for upside exposure, with no meaningful bearish large-trade offset appearing alongside it, which indicates confidence in a higher medium- to long-term price path rather than hedging or income-oriented positioning.
Strategy Reference
For traders who prefer limited capital outlay and a low assignment probability, selling a cash-secured put at a strike well below spot—such as the February 21, 2025 $175.00 put—offers a way to monetize high implied volatility without chasing the long call premium, while a bull call spread from $200.00 to $220.00 expiring in March 2025 could reduce upfront cost against the elevated IV environment.
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