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High-Volume HOOD Call Spread Trade Points to Aggressive Upside Bet
A massive Robinhood Markets (HOOD) options call spread was executed with 16,150 contracts, catching attention due to its size and $3 million investment. As the trade edges into profit, traders may be betting on HOOD's momentum to continue its steep climb after a 457.3% surge from its 52-week low.
Key Trade Details: $3 Million Spent for Up to $13.2 Million Upside
| Options Expiration | Strike Prices | Contracts | Days to Expiry | VWAP Price | Bid | Ask | Stock Price at Trade | Reference Price Now | Profit | Percent Gain |
|---|---|---|---|---|---|---|---|---|---|---|
| 21-Nov-25 | 140-160 Call Spread | 16,150 | 63 | 3.69 | 3.52 | 3.82 | 122.61 | 122.88 | 0.04 | 1.1% |
The buyers paid roughly $3 million in premium for a chance to make about $13.2 million if HOOD closes above $160 by expiration (Nov 21, 2025). You can see this and similar trades on the multi leg trade analyzer.
Stock Momentum Is Strong: HOOD Has Outperformed the S&P 500 By a Wide Margin
Recent trading in HOOD aligns with bullish technicals and a strong price trend. The current stock price of $122.88 reflects a 1.97 point gain today (+1.63%). Here’s how HOOD has stacked up against the S&P 500 over different time frames:
| Duration | HOOD Return | Low | High | SPY Return |
|---|---|---|---|---|
| Today | +1.7% | 121.00 | 123.42 | +0.1% |
| 2 Week | +19.4% | 95.66 | 124.36 | +1.8% |
| 1 Month | +6.9% | 95.66 | 124.36 | +2.8% |
| 3 Month | +56.9% | 74.39 | 124.36 | +11.3% |
| 6 Month | +206.5% | 29.66 | 124.36 | +18.4% |
| 1 Year | +435.6% | 22.05 | 124.36 | +19.0% |
| YTD | +229.9% | 29.66 | 124.36 | +13.4% |
| 3 Year | +1099.2% | 7.57 | 124.36 | +76.4% |
| 5 Year | -- | -- | -- | +109.2% |
HOOD's price sits 457.3% above its 52-week low and only 1.2% below its 52-week high. Technically, the stock is in an uptrend with all short and long-term moving averages well below the current price, and it’s broken through resistance levels, signaling further momentum.
Technical Indicators Point to Bullish Trend Despite Minor Resistance
HOOD’s technical profile looks strong:
- 20-day moving average: $110.33 (+11.4% below current price)
- 50-day moving average: $107.76 (+14% below)
- 250-day moving average: $58.90 (+108.6% below)
- Today’s close sits just 1.2% from the 52-week high, showing robust buying interest
- The stock has outperformed the SPY ETF over all major time frames, including a staggering 435.6% return over the last year compared to the S&P 500's 19%
With moving averages trending higher and price levels repeatedly exceeding expected resistance, the setup reflects confidence from buyers—even if options market signals are mixed.
Option Skew Indicator Signals Slightly Bearish Market Posture
Despite the bullish stock trend and outsized call spread bet, the 30-day implied volatility skew on HOOD sits at the 46% rank (proprietary Market Chameleon skew indicator). That indicates a slightly bearish sentiment among option traders, who may be hedging against short-term risk or volatility. It’s a useful reminder that, while the recent move has been forceful, some are cautious about further upside.
What’s Next? Following the Big Bet—and the Trend
This high-volume call spread is a bet that HOOD’s strength isn’t done yet: buyers are risking over $3 million for a possible payout more than four times as large. The stock’s current uptrend, strong relative performance, and momentum against market resistance lend credibility to a bullish view. But the slight bearish tilt in option skew suggests not everyone is convinced. To see more trades like this, explore the multi-leg option trades screener for deeper insights.
As HOOD continues its streak, keep an eye on technical indicators and options market sentiment. With this kind of volume and reward potential on the table, will HOOD keep soaring—or are traders hedging for a pause?
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Marketchameleon is a comprehensive financial research and analysis website specializing in stock and options markets. We leverage extensive data, models, and analytics to provide valuable insights into these markets. Our primary goal is to assist traders in identifying potential market developments and assessing potential risks and rewards.
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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Disclosure: This article was generated with the assistance of AI