Nikola Corporation's stock is experiencing a notable increase today, driven by heightened trading activity and speculative interest in its options market. The company's options chain reveals significant activity in the $2.00 strike call options, with an implied volatility of 358% and a notable volume of 450 contracts. This heightened activity suggests that traders are speculating on potential upward movement in Nikola's stock price, despite the current odds indicating an 85% chance of these options expiring worthless. The speculative nature of these trades may be contributing to the stock's upward momentum as investors anticipate potential short-term gains.
Additionally, Nikola's position as one of the top stock losers year-to-date, with a decline of 95.64%, may be attracting bargain hunters looking for a potential rebound. The stock's significant year-to-date loss could be prompting some investors to speculate on a recovery, especially as the year comes to a close and traders reassess their portfolios.
Nikola Corporation's stock is currently trading at $1.18, reflecting a 6.30% increase from the previous close of $1.11. The stock has seen a high of $1.44 and a low of $1.11 today, with an extraordinary volume of 19,997,284 shares traded, representing 268.75% of its average daily volume.