Unusual Options Activity Shows 71,000 Calls Hit the Tape for Applied Digital Stock – How You Should Play APLD Here

At first glance, a trade of this size may appear bullish, perhaps a long-call position from a bullish trader looking for a snap-back rebound. But other interpretations are just as plausible. One possibility is a delta-neutral setup, such as a call sale paired with long stock. In this case, the $25 call carried a delta near 0.44, meaning a trader could sell the calls and simultaneously buy shares at that hedge ratio.The volatility backdrop helps frame the trade more clearly. Implied volatility in the Nov. 28 ...