Shares of IONQ Inc. rose sharply on Thursday, soaring 10.29% intraday after data showed significant bullish options trading activity in the stock.
According to trade data, call option volume on IONQ surged to 28,248 contracts, nearly 3 times the expected level. Additionally, the stock's implied volatility, a measure of expected future price swings, increased by over 1 point to 125%.
The bullish options flow suggests traders are positioning for further gains in IONQ's stock price. Call options give traders the right to buy shares at a predetermined price, allowing them to benefit from an upside move while limiting downside risk.
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