$RIOT calls rise overnight

$RIOT calls rise overnight

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Bullish option traders are making some fast coin in Riot Blockchain (RIOT) today.

Yesterday on Apr. 10Market Rebellion’s Unusual Option Activity Service found that 8,700 Weekly $10 calls, expiring Apr. 14, were bought for $0.17 to $0.47 with shares at $9.28. This was clearly fresh buying, as open interest in the contract was just 4,939 before the activity appeared.

Those calls traded for as much as $2.52 this session, a 436.17% return, while the stock rose 34.38% at the same time, underscoring how quickly options can far outperform their underlying shares.

Long calls lock in the price where investors can buy a stock, letting them position for a rally at limited cost with the potential for significant leverage. They carry less risk than owning shares because the most that can be lost is the price of the options no matter how far the stock might fall.

RIOT was last higher this session at $12.44, up 17.63% on the day.

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