Shares of Opendoor Technologies Inc (NASDAQ:OPEN) are surging 61.7% to trade at $9.48, after the company named Shopify (SHOP) executive Kaz Nejatian as its new CEO and co-founder Keith Rabois as chairman. This comes after former CEO Carrie Wheeler resigned last month amid investor pressure. The real estate e-commerce stock is now attracting renewed meme stock attention, especially in the options pits.
Today, activity is running at triple the intraday average, with 2.16 million calls and 1.17 million puts traded so far. The most popular contract is the weekly 9/12 10-strike call, followed by the September 10 call, with positions being bought to open at both.
The stock is in the midst of its best daily percentage gain ever, earlier touching a three-year high of $10.30. Today's breakout is extending the security's already impressive, 495% year-to-date gain, pressuring the overhead $10 mark.
