Joby Aviation, Inc. (JOBY) stock soared 20.40% in pre-market trading on Friday, hitting a new 52-week high. The surge came on the back of bullish options activity, with call option volume spiking to over 6 times the normal level and implied volatility rising sharply.
Data showed 34,849 call options traded on JOBY shares, well above the expected volume. The surge in call buying suggests increased bullish sentiment among options traders looking for further upside in the eVTOL air taxi company's stock price.
The combination of heavy bullish options flow and JOBY hitting new 52-week highs points to renewed investor optimism around the company's prospects. The rally positions JOBY stock for further potential gains as the eVTOL market continues developing.
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