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Affirm Options Pop Off, $40 Calls Jump 900%

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Kevin Travers joined discussion · 2 hours ago
Affirm shares climbed 34% by mid-day Thursday after the firm's 14C loss for Q2 was higher than the expected 51C estimated by Wall Street analysts. The improvement led to a major price jump in $Affirm Holdings (AFRM.US)$, sending options on the underlying to the top seven stocks on the U.S. Market by volume Thursday.
Affirm Options Pop Off, $40 Calls Jump 900%
One contract stood out for its volume, the $40 call expiring Friday that gives holders the right to buy Affirm at $40 at a current going price of $2.43/share for 100 shares. The contract saw 14k in trading volume Thursday, according to moomoo data. Affirm sits at $42.225/share, trading just past midday on Thursday.
The contract jumped in value from 40C to $3.37 nearly overnight following the firm's earnings report.
Affirm Options Pop Off, $40 Calls Jump 900%
Options contracts on the stock lean heavily toward Calls, with 260k Calls vs. 89k Puts overall. According to moomoo data, the underlying stock felt a turnover of $1.62B Thursday, across more than 300M shares traded. The Large segment of trade size was the outlying Net Capital segment: the largest group of trades were the top 10-30% in size, and $88M in new capital was coming in.
Affirm Options Pop Off, $40 Calls Jump 900%
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