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Large-Volume OKLO Call Spread Nets 55.2% Gain After Stock Jumps 19.3%
A notable options trade hit the tape for Oklo Class A (OKLO) on September 19, 2025—a 1,848 contract call spread—where buyers quickly saw a 55.2% gain as the underlying stock surged 19.3% in a single day. Let’s dig into the numbers and see how technical and options market indicators stack up following this outsized move.
Trade Snapshot: Over $28K Risked, Potential $434K Reward
| Trade Detail | Value |
|---|---|
| Options Expiration | 19-Sep-25 |
| Strike Prices (Call Spread) | 135 / 140 |
| Number of Contracts | 1,848 |
| VWAP Trade Price | 0.30 |
| Current Market Price | 0.47 |
| Spread Gain | +0.17 (+55.2%) |
| Stock Price Change (from Trade Ref.) | +10.16 (+8.8%) |
| Stock Reference Price at Trade | 115.07 |
| Current Stock Price | 125.23 |
This buyer spent just over $28,000 (1,848 contracts x $0.30 x 100) for the spread. If OKLO is at or above $140 at expiration, their profit could reach roughly $434,000—underscoring the asymmetric payoff these strategies offer. Full multi-leg trade analyzer here.
Technical Indicators Point to Strong Uptrend
OKLO’s technicals signal momentum that’s hard to ignore. The stock is up 19.3% in the past day, has soared 1,914.5% in the last year, and is now 221.8% above its 250-day moving average. All short-term and long-term moving averages point firmly higher—emphasizing a robust uptrend.
| Metric | Value |
|---|---|
| Current Stock Price | 125.23 |
| Change (Day) | +20.26 (+19.3%) |
| From 52W Low | +1850.0% |
| From 20D MA | +60.0% |
| From 50D MA | +70.0% |
| From 250D MA | +221.8% |
| 20D MA / 50D MA | +6.3% |
| 20D MA / 250D MA | +101.2% |
| Uptrend Status | Yes |
To put this run in perspective, OKLO has outperformed the S&P 500 (SPY) in every major timeframe. The following table breaks down recent performance versus the broader market:
| Duration | OKLO Return | Low | High | SPY Return |
|---|---|---|---|---|
| Today | +19.4% | 107.16 | 125.43 | +0.2% |
| 2 Week | +80.0% | 66.20 | 125.43 | +2.0% |
| 1 Month | +81.6% | 61.01 | 125.43 | +2.9% |
| 3 Month | +102.0% | 50.08 | 125.43 | +11.4% |
| 6 Month | +381.6% | 17.42 | 125.43 | +18.6% |
| 1 Year | +1914.5% | 6.42 | 125.43 | +19.2% |
| YTD | +490.2% | 17.42 | 125.43 | +13.5% |
| 3 Year | -- | -- | -- | +76.6% |
| 5 Year | -- | -- | -- | +109.5% |
Skew Indicator Slightly Bearish Despite Recent Surge
Despite the explosive move in the underlying stock and bullish price momentum, options markets paint a slightly more cautious forward-looking picture. The proprietary 30-day implied volatility skew stands at the 49% rank—interpreted as slightly bearish compared to historical benchmarks. While this doesn’t counter the current price trend, it does suggest that some options traders may be hedging or anticipating potential pullbacks or volatility into the future.
Takeaway: Momentum-Driven Gains with Some Market Caution
The recent high-volume call spread trade in OKLO signals aggressive bullish bets—with buyers already locking in gains over 50% in just one day, thanks to a rapid price move. Technically, the stock’s momentum and performance remain overwhelmingly positive versus major indices, reinforcing a bullish near-term narrative. However, option market skew reveals that not everyone is convinced the ride will remain smooth.
For traders interested in more call spreads or advanced multi-leg strategies, visit the Multi-Leg Option Trades Screener for further exploration.
Ultimately, while this call spread trade exemplifies the payoff potential of options during a stock’s surge, the slightly bearish skew indicator is a reminder to weigh momentum against the risk of future reversals or increased volatility. Monitoring both technical trends and option sentiment will be key for anyone tracking OKLO from here.
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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