AI’s choices quantity is operating at greater than double its common intraday quantity
The shares of C3.ai Inc (NASDAQ:AI) are surging in the present day, up 13.6% to commerce at $27.23 finally look, on observe for his or her finest single-session acquire since June 13. Though there isn’t any particular catalyst, in the present day’s optimistic value motion may very well be a halo raise due to sturdy earnings from information expertise peer Palantir Applied sciences (PLTR). The breakout is also shorts getting squeezed, contemplating a whopping 37.8% of the inventory’s complete out there float is bought quick.
Both means, choices merchants are chiming in on the transfer. To date in the present day, 77,000 calls and 45,000 places have been exchanged, which is 2.6 occasions the typical every day choices quantity already. The November 20 put is the preferred, adopted by the weekly 11/10 28-strike name, with new positions opening at each.Â
These choices merchants are in luck, too. AI’s Schaeffer’s Volatility Index (SVI) of 70% ranks within the low sixth percentile of its annual vary, that means choices merchants are pricing in comparatively low volatility expectations in the mean time.Â
C3.ai inventory has been consolidating across the $25 stage since mid September, however nonetheless sports activities a hefty 144.5% year-to-date acquire. The inventory’s 60- and 200-day transferring averages seem like conserving a cap on in the present day’s rally, whereas its 320-day transferring common lingers beneath as assist.Â
