NIO Options Volume Skyrockets
Trading of Chinese electric car manufacturer Nio skyrocketed Wednesday as 383,433,002 shares changed hands. Call option value was over 1.1 million.
The most actively traded option across the entire market was the NIO $40 call expiring Friday. 171,950 of the contracts were traded as NIO stock was up 6.23%.
The option closed yesterday at $0.28, and reached a peak of $1.73 today (+518%). It ended the day at $0.60.
Implied volatility remains extremely high at 89.15% for the option contract.
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