IOT Call Spread Traders Score 30% Gain on Surge Above $42—Is the Fast Bullish Crossover a Green Light?
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Large IOT 38-41 Call Spread Sees $384K in Notional Volume with a 30.4% Gain
Samsara Class A (IOT) just saw a hefty 3,542-contract call spread trade, targeting the 38-41 September 2025 calls at a VWAP price of $2.17. By 10:10 AM, this position was marked at $2.83, delivering buyers a swift 30.4% gain—about $0.66 per spread—as IOT stock vaulted 18.33% from a $40.15 reference to $42.41. With an initial capital outlay over $384,000, this trade offers a potential $148,000 profit if IOT can finish above $41 by expiration.
| Detail | Value |
|---|---|
| Expiration Date | 05-Sep-25 |
| Spread Strikes | 38-41 Call Spread |
| Number of Contracts | 3,542 |
| VWAP Trade Price | 2.17 |
| VWAP Current Price | 2.83 |
| Notional Cost | $384,414 |
| Max Potential Profit | $148,222 |
| Reference Stock Price | 40.15 |
| Current Stock Price | 42.41 |
| Days to Expiration | 0 |
Full Multi-Leg Trade Analyzer for IOT
Technicals Turn Bullish with Fast Crossover—Short-Term Momentum in Focus
IOT’s technical backdrop is seeing a significant momentum burst. The stock is up 18.33% today alone, pushing through both expected daily resistance and recent averages. Here’s how key stats stack up:
- Price Surge: +6.57 points today, with a 12.7% open jump and another 5.0% climb after the open.
- Trading Above Key Moving Averages: The price sits 24.2% above its 20-day MA and 15.7% above its 50-day MA.
- Fast Bullish Crossover: The short-term average has crossed up, historically signaling bullish trends for momentum traders.
- 52-Week Performance: Up 35.1% from its low, but still down 31.5% from the high. Over 3 years, IOT’s +231.3% crushes SPY’s +70.7%.
| Duration | IOT Return | Low | High | SPY Return |
|---|---|---|---|---|
| Today | +18.2% | 38.39 | 42.60 | 0.0% |
| 2 Week | +29.0% | 32.55 | 42.60 | +2.1% |
| 1 Month | +12.7% | 31.68 | 42.60 | +2.8% |
| 3 Month | -9.3% | 31.68 | 48.41 | +9.2% |
| 6 Month | -4.1% | 31.40 | 48.41 | +13.1% |
| 1 Year | +9.6% | 31.40 | 61.90 | +19.1% |
| YTD | -3.0% | 31.40 | 61.90 | +11.3% |
| 3 Year | +231.3% | 8.42 | 61.90 | +70.7% |
Despite this pop, longer timeframes show IOT has lagged the S&P 500 except in very recent weeks—underscoring why the call spread’s upside cap (at $41) looks tactical given lingering resistance above current levels.
Option Skew Indicator is Slightly Bearish Despite Bullish Technicals
Option markets aren’t fully buying the rally yet. The 30-day implied volatility skew is at a 44% rank—leaning slightly bearish compared to the past year. In plain terms, option pricing signals traders see more risk of a near-term pullback or are paying up for downside protection, despite the strong stock bounce.
This mixed message is worth watching: when technicals are flashing momentum but the option market is more cautious, short-term volatility (and surprise moves) often follow. For those eyeing similar call spreads, Market Chameleon’s multi-leg trade screener can help uncover other set-ups with favorable reward-to-risk profiles.
Key Takeaways—Should You Be Watching the Next IOT Call Spread?
This $384K IOT call spread highlights how option traders are navigating both a breakout in technicals and cautious option sentiment. The recent 30% gain in the spread reflects well-timed execution—but option skew shows the market isn’t convinced this surge is here to stay. If you’re tracking IOT or want to spot more strategic trades, keep an eye on whether the next moves confirm the bullish crossover or revert toward the options market’s guarded outlook. You can dig deeper into the trade details here or scan for new call spread ideas in real-time using the multi-leg trade screener.
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NOTE: Stock and option trading involves risk that may not be suitable for all investors. Examples contained within this report are simulated and may have limitations. Average returns and occurrences are calculated from snapshots of market mid-point prices and were not actually executed, so they do not reflect actual trades, fees, or execution costs. This report is for informational purposes only, and is not intended to be a recommendation to buy or sell any security. Neither Market Chameleon nor any other party makes warranties regarding results from its usage. Past performance does not guarantee future results. Please consult a financial advisor before executing any trades. You can read more about option risks and characteristics at theocc.com.
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