D-Wave Quantum Inc. (QBTS) stock surged 5.20% in a 24-hour period, continuing its upward momentum following a broader rally in the quantum computing sector. The stock's positive performance comes on the heels of the company's recent product launch and increased investor interest in quantum technology companies.

Earlier this week, D-Wave unveiled its newest quantum computer, the Advantage2, which CEO Alan Baratz described as "a significant milestone not just for D-Wave, but for the quantum computing industry as a whole." This announcement has likely contributed to the sustained investor enthusiasm for the stock. The quantum computing sector as a whole has seen significant gains, with industry peer IonQ rising 36% and other companies in the space also experiencing substantial increases.

Adding to the bullish sentiment, options market activity for D-Wave has been notably high. According to market data, there were 517,960 D-Wave option contracts traded, representing a 64% increase from the previous trading day. Call options accounted for 68% of the overall option trades, indicating a strong bullish bias among options traders. Particularly high volume was observed for the $30 strike call option expiring June 20, suggesting that some investors are betting on further upside for the stock in the near term.