Trump Media Investors, Speculators Load Up on $90 Calls

Luzi Ann Santos joined discussion · Mar 27, 2024 04:21

$Trump Media & Technology (DJT.US)$s investors and speculators are loading up on bets that could pay off if the shares that are already up 16% at their first trading day, could climb further.

Source: moomoo desktop app

Call options that give the holder the right to buy Trump Media shares at $90 each by Thursday were the most actively traded contracts tied to the stock, data compiled by moomoo showed. About 33,840 of such contracts changed hands Tuesday. By comparison, put options that give the holders the right to sell the stock at that $90 strike price, also expiring in two days, totaled just 777.

Trump Media Investors, Speculators Load Up on $90 Calls

In total, some 258,170 options tied to Trump Media, named after one of its biggest holder, former President Donald J. Trump, were traded. That gives DJT the 11th highest stock options volume tracked by moomoo.

The number one slot belongs to $Tesla (TSLA.US)$, with 2.31 million options traded, followed by $NVIDIA (NVDA.US)$, with 1.06 million. DJT is just below $Carnival (CCL.US)$, which saw 259,840 options traded.

Source: moomoo desktop app

Bets against Trump's social media company have proven costly. Annual financing costs to borrow DJT shares are now more than 150%, Bloomberg reported, citing data from S3.

Even market players with millions of dollars at their disposal are jumping in. See these block trades on moomoo app below.

Source: moomoo desktop app

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