9:21am ET, Friday AUG. 27: Over the last half year, Support.com’s stock price has seen fast and steady growth, and is up nearly 800% from the beginning of the year, with nearly 200% of that climb occuring in just the last month. What is perhaps most impressive about this is the fact that of that 200% 30-day climb, over 110% of that has happened in the last 5 trading days alone. Pre-Market trading this morning saw SPRT climb higher than 140% at one point, topping out at over $54 per share.
Since Unusual Whales last wrote about the Unusual Options Activity for SPRT in a Nasdaq article from August 25th, outlining multiple days with 100,000+ Call contracts being traded, SPRT has continued to see immense flow as the stock price more than doubled since the article was published.
This graphic shows a heavy urgency for call purchase orders, with massive premiums (some as high as $10m) placed on the ask side, indicating the whales placing these orders are doing so with some sence of urgency (as explained by YourBoyMilt in their YEET No. 19 article explaining how to use and read Unusual Whales options flow).
Over the last few weeks, we can see that SPRT has seen a few timely hikes in options volume, but the last week especially shows urgent bullish sentiment. In the table below, we can observe that 8/24 to 8/26 experienced significantly more options flow than the days prior, with volume peaking on Tuesday, 8/25, with a total of 231,920 call options traded, and 82,222 puts.
Rationale behind the surge in Support.com’s surging stock price range from premonitions of another epic short squeeze, to SPRT having recently branched into the Bitcoin world. Whatever the real reason, investors seem more than interested, and we will be watching where the stock goes in the days to come.
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