美国投资银行派珀桑德勒公司期权业务负责人丹尼尔·柯什（Daniel Kirsch）表示，Rivian大部分股票期权交易属于“超短期看涨期权”，这种交易特点会让Rivian的股价进一步大幅上涨。
Sina Technology News reported on the morning of July 11, Beijing time, according to reports, with improvements in fundamentals, Rivian, a new American electric vehicle power company, has recently become the “darling” of the capital market. Options trading is extremely active, and investors are betting heavily on Rivian's bullish options. According to some market participants, this round of short-term options trading has caused Rivian's stock price to rise for nine consecutive days recently, the first time in the company's history.
This round of sharp rise in Rivian's stock price began when the company released its second-quarter earnings report last week. Its electric vehicle deliveries exceeded Wall Street analysts' expectations and stimulated trading sentiment. According to reports, in the past eight trading days, Rivian's stock price has soared 83%. On Monday local time, the number of Rivian stock options contract transactions reached 831,000, which is more than double its trading volume on weekdays.
Daniel Kirsch (Daniel Kirsch), head of the options business at the American investment bank Piper Sandler, said that most of Rivian's stock options transactions are “ultra-short-term bullish options,” and this trading characteristic will cause Rivian's stock price to rise even more sharply.
According to reports, an off-price bullish option is an option that is not yet profitable. If the stock price of a listed company rises in the future, this type of option will increase in value. If there is a large-scale purchase of bullish options outside of the price in the market, it will often have an additional driving effect on the stock price.
According to reports, this kind of option trading phenomenon is also known as “gamma squeezing,” that is, if options trading market makers sell stock options, they often buy some stocks in order to hedge risks, which ultimately causes stock prices to rise.
Over the past few years, the gamma squeezing phenomenon has occurred in some stocks with very active stock options trading, such as Tesla, a leading electric vehicle company, and AMC, an American cinema line company.
The expert Kosh mentioned above explained that the phenomenon surrounding Rivian's stock price made him think of Tesla stocks. When Tesla's stock price is rising steadily, some options investors will buy bullish options in addition to ultra-short-term prices. As a result, Tesla's stock price rises even more rapidly.
Kosh also pointed out that recent active traders in Rivian stock options include both retail investors and institutional investors.
On Monday, Rivian was the third largest option trading company in the US capital market options trading sector, second only to Tesla and Apple in trading volume. Of these, 42% of Rivian options contracts will expire this Friday.
In addition to Rivian, NIO Auto was also very active in options trading on the same day. The company's options trading volume ranked 10th in the overall market.
