Shares of Planet Labs Pbc (PL) surged 6.86% intraday on Tuesday, potentially driven by bullish sentiment among options traders.
According to the latest trading data, call option volume in PL stock spiked to 12,852 contracts, 3 times higher than the normal level. The implied volatility, which reflects the expected price swings in the underlying stock, also increased by nearly 2 points to 100.15%.
The elevated call option activity suggests that traders are betting on further upside in PL shares. Increased demand for call options, which grant the right to buy the underlying stock at a predetermined price, can sometimes translate into buying pressure in the stock itself.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.