Super Micro Options Fly, Stock Climbs 24%, But No Filing Yet

Options on the underlying stock climbed to the eighth position overall in the market, ranked by total options volume Monday, and the fifth highest individual stock. According to moomoo, 519k contracts changed hands on the chain.

On neither of the most recent Nvidia-laden press release dates did the SMCI stock shoot up past even 3%.

Within the options chain on SMCI, the highest volume trade was the $25 Calls expiring Friday, which gives holders the right to buy SMCI at 25/share, at a current going price of about $1.88 each share for 100 shares.

Though the price of the contracts climbed today, overall, they have fallen alongside the underlying decline for the past six months.

The trouble started over the summer, when the firm first delayed its June 10k full-year report, shortly after a short report firm wrote that SMCI was facing accounting issues. The firm blew through its filing deadline at the end of the month. On September 17th, the firm received a notice from one of its listing partners, the Nasdaq stock exchange, that it had 60 days to comply with its rules and file a report.

The company announced its independent auditor, Ernst & Young, resigned over governance and transparency concerns at the end of October. Finally, on its Q1 2025 earnings date, the firm only released preliminary results and has not reported for six months.

Still, the stock climbed the most in nine months Monday, on the briefest glimmer of hope it would not face delisting, even after receiving a weekend extension to file. By 2:50 pm ET, there was about an hour left in the trading session and no filing yet.