HOOD’s $30K Call Spread Trade Sees 48.3% Gain in a Day as Technicals Diverge from Bullish Skew
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Large-Scale HOOD Call Spread Nets 48.3% Return as Price Rallies $1.68
On November 26, 2025, a high-volume call spread trade in Robinhood Markets - Class A (HOOD) options was recorded, standing out for its scale and rapid profit. The buyer put up more than $30,000 for a bullish position, and within hours saw the value of the spread rise from 0.40 to 0.59—a 48.3% gain—as HOOD’s stock jumped $1.68 from $123.53 to $125.21. Below, we detail this trade, examine what might have motivated it, and put the move in the context of HOOD’s technicals and option sentiment.
Trade Snapshot: Details and Payout Structure
| Trade Detail | Value |
|---|---|
| Expiration | 28-Nov-25 |
| Strikes (Call Spread) | 129 / 133 |
| Contracts | 1,530 |
| Days to Expiry | 2 |
| VWAP Trade Price | 0.40 |
| VWAP Bid/Ask | 0.28 / 0.50 |
| Stock Reference (Trade Time) | 123.53 |
| Stock Price at 11:35am | 125.21 |
| Current Spread Value | 0.59 |
| Trade Gain | +0.19 (+48.3%) |
| Max Payout Potential | $276,000 |
View trade details and multi-leg analyzer
Call Spread Buyer Eyes Big Payout if HOOD Surges Above $133
This call spread’s structure—buying the 129 strike and selling the 133 call for a net debit of 0.40—means the buyer is targeting a move above $133 before expiration for maximum profit. If HOOD stays below $129, the entire $30,000+ premium is lost. Between $129 and $133, the profit rises linearly; above $133, the max gain hits approximately $276,000. The large size and close expiry suggest the buyer expects either an imminent rally or a short-term volatility pop.
Stock Price Momentum Strong, But Technical Moving Averages Signal Caution
HOOD is no stranger to volatile swings, with today’s +8.34% rally standing out—especially after a 5% jump at the open. Yet, several technical signals flash caution:
- Price now sits at $125.21, which is 1.8% below its 20-day moving average (127.54), and 5.4% under its 50-day moving average (132.29).
- There is a Bearish Crossover on moving averages (20-day < 50-day), usually interpreted as a warning that short-term strength is waning.
- Despite near-term underperformance, HOOD’s 12-month gain of +230.9% handily beats the SPY ETF (+15.2%), and its 3-month return (+16.0%) also outpaces SPY (+6.3%). However, in the past 2 weeks, HOOD fell 5.1% as SPY edged down just 0.3%.
- The stock price is now well above expected daily resistance ($121.08) and approaching previous 52-week highs ($152.46 from Oct 2025).
See performance breakdown below:
| Duration | HOOD Return | Low | High | SPY Return |
|---|---|---|---|---|
| Today | +8.4% | 120.86 | 126.27 | +0.9% |
| 2 Week | -5.1% | 102.10 | 133.84 | -0.3% |
| 1 Month | -10.4% | 102.10 | 150.47 | +0.6% |
| 3 Month | +16.0% | 95.66 | 153.86 | +6.3% |
| 6 Month | +98.2% | 62.92 | 153.86 | +18.2% |
| 1 Year | +230.9% | 29.66 | 153.86 | +15.2% |
| YTD | +236.1% | 29.66 | 153.86 | +17.1% |
| 3 Year | +1233.7% | 7.57 | 153.86 | +74.5% |
Option Skew Remains Bullish Despite Recent Price Consolidation
Notably, while the moving averages lean bearish, the 30-day option skew remains firmly bullish with a 94% rank—close to the most positive readings over the past year. This means traders are assigning higher implied volatility to upside strikes, a signal of expectations for bullish price movement or heightened risk appetite. This strong skew suggests options market sentiment has not yet turned, despite recent technical softening.
To analyze more trades like this, check out the Multi-Leg Option Trades Screener.
Takeaway: Trade Success Rides on Near-Term Surge While Technicals Flash Mixed Signals
With just two days to expiry, the HOOD call spread buyer needs a powerful near-term push above $133 to realize maximum returns. While today’s trade generated a quick 48.3% gain as price rallied, the bearish crossover in technical moving averages urges caution. The persistent bullish options skew could signal either confidence in another upside swing or demand for speculative exposure in an uncertain tape.
Ultimately, HOOD remains a battleground stock with momentum on its side long-term, but tactical trades like this one depend on very short-term price swings. As the expiration approaches, both the options and technical indicators will be crucial to watch for further signals of the next big move.
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