On October 15, 2025, amid a significant stock market decline, retail traders aggressively bought the dip, with over 110 million options contracts traded—setting a new record and highlighting increased amateur investor activity in response to market volatility.
Opendoor's stock experienced extreme volatility, soaring nearly 120% before being halted due to a gamma squeeze driven by a surge in call options trading, particularly around the $4.50 strike price, leading to massive trading volumes and rapid price swings amid broader market gains.
The $300K Bitcoin call option has become the most popular bet for June 27 expiry, with over $600 million in open interest, reflecting aggressive speculative positioning by traders expecting Bitcoin to rally above $300,000 by the end of June. Despite the current price of around $110K, traders are engaging in short-term bullish bets, which may signal a market top or heightened volatility, especially as the demand for short-duration calls increases and market skew indicates extreme bullish sentiment. Experts suggest this could be a contrarian warning of potential market exhaustion.
Keith Gill, known as "Roaring Kitty," has seen his wealth skyrocket from a $53,000 investment in GameStop to nearly $300 million, with potential to reach $1 billion. His significant holdings and influence on the stock have raised concerns about market manipulation, and he faces potential action from his broker. Gill's strategy involves holding 5 million shares and 120,000 call options, which could further increase his stake if exercised.
Traders are placing speculative bets on GameStop's stock by purchasing long-shot call options that would pay off if the stock price nearly doubles before or shortly after the company's upcoming earnings report. Investors have been particularly interested in options with strike prices at $20, $22, and $22.50, indicating a belief that the stock could climb at least 40%.
Arista Networks (ANET) exceeded analysts' expectations with a 46% increase in earnings and a 28% rise in revenue. Investors who believe the stock will continue to rally can use long call options instead of buying the stock outright to protect capital in volatile markets. Call options provide leverage, allowing investors to gain exposure to the stock with a fraction of the capital required to buy the stock. By buying call options, investors can limit their potential losses to the premium paid while enjoying unlimited upside if the stock rises. However, options trading carries risks, and investors should conduct their own due diligence and consult a financial advisor before making any investment decisions.
Goldman Sachs recommends buying call options in two tech giants ahead of their earnings reports, as the investment bank expects strong results from both companies. The call options strategy allows investors to profit from a rise in the stock price while limiting potential losses.