Enovix Corporation (ENVX) saw its stock price surge 10.03% on Thursday during the intraday trading session, driven by heightened bullish options activity and increased volatility.
According to the financial news, there was a significant increase in call option volume for ENVX, with 10,409 calls trading, 1.5 times the expected volume. Additionally, the implied volatility for ENVX options spiked nearly 4 points to 89.79%.
The elevated call option activity and rising volatility suggest that traders are positioning themselves for further upside potential in Enovix's stock price, potentially due to positive expectations surrounding the company's business prospects or upcoming catalysts.
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