SoundHound AI Inc. (SOUN) stock surged 8.71% in intraday trading on Friday, likely driven by heavy bullish options activity detected on the stock.
Data showed an unusually high trading volume of 56,488 call options on SOUN shares, around 1.4 times the expected level. Additionally, the implied volatility for SOUN options spiked nearly 4 points to 124.41%, indicating increased expectations of bigger price swings in the near future.
The elevated bullish options flow suggests traders were aggressively buying call options, betting on SOUN shares to continue rising from current levels. This flurry of call buying activity appears to have provided a strong boost to SOUN's stock price on Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.