PDD 0DTE Options Fly After Analyst Upgrades
$PDD Holdings (PDD.US)$ shares traded higher Friday after Goldman Sachs analysts upgraded the stock form neutral to buy, and raised the firms price target 10 $184. The news follows other analyst upgrades this week, from Bank of America and Nomura. Options on the stock jumped Friday to the top tenth place in the entire U.S options market by volume.
One contract, the $165 Call expiring in "zero days" on Friday, saw a volume of 23,420 trades. The contract gives holders the right to buy the stock at $165 for a current bid price of 1C/share for 100 shares.
At one point, the two-week contract hit a price of $242, or more than 2,000% up from its current price.
Overall, 246k options changed hands Friday, compared to about 13M shares and 2.1 Billion dollars.
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