AST SpaceMobile closed at USD 74.31 with a 3.74% change.

Options activity lit up around ASTS, highlighted by a $1.68 million long-dated call purchase at the $125 strike. This outsized bullish bet, combined with a smaller bearish call sale, pushed the net flow firmly positive even as the stock’s implied volatility percentile hovers near its historical lows, suggesting a conviction-driven directional play rather than a volatility-chasing trade.

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Options Indicators

ASTS is showing an implied volatility of 91.06%, but its IV percentile is only 11.16%, which indicates that despite the high absolute IV level, current option pricing sits near the low end of its own historical range. Combined with an IV/HV ratio of 0.82, this suggests implied volatility is running below realized volatility, reinforcing the view that options are relatively cheaply priced rather than reflecting an elevated volatility premium. The Call/Put volume ratio is 2.54.

Large Trades

A CALL buy worth $1.68 million was the largest highlighted trade, with 1,950 contracts bought at the 125.0 strike expiring on 2027-02-19. With ASTS referenced at $74.31, this call was out of the money, making it a clear bullish directional bet on substantial upside over a longer time horizon. The size and long-dated tenor suggest the buyer was seeking leveraged exposure to a major upside move rather than near-term income, reflecting willingness to pay premium for convexity and time.

A CALL sale worth $0.40 million was the other displayed large trade, involving 13,662 contracts sold at the 83.0 strike expiring on 2026-08-14. With the stock at $74.31, this call was also out of the money, and the opening-style sale points to a bearish or cap-upside stance, likely expressing the view that ASTS will remain below that strike or at least fail to rally enough to make the premium sale unattractive. Strategically, this kind of trade is consistent with premium collection or a moderately bearish view on upside limitations.

Overall sentiment in ASTS large trades was bullish, with total bullish flow of $1.68 million versus $0.40 million bearish flow, for a net bullish difference of $1.28 million. The directional bias is clearly positive because the dominant premium outlay came from a sizable long-dated upside call purchase, while the bearish flow was smaller and limited to out-of-the-money call selling. Taken together, the large-trade profile suggests institutional activity was skewed toward upside participation, even though some traders were still comfortable fading shorter- to medium-term upside through call overwriting or premium sales.

Strategy Reference

For traders seeking to fade the premium sale, selling the $83 strike call-only is aggressive; a covered call with shares or a call credit spread using the $83/$90 strikes could limit tail risk.