Lithium Americas Corp (NYSE:LAC) stock was last seen 97.9% higher to trade at $5.95, amid reports that the Trump administration is pursuing an equity stake of up to 10% in the company.
The equity deal would come in exchange of a $2.26 billion government loan for its Thacker Pass lithium mine in Nevada. Other lithium miners are enjoying a halo lift, with the shares of Albemarle Corp (NYSE:ALB) up 2.6% at $82.19 at last check.
Today's surge has LAC on track for its biggest single-day percentage gain in history. The security skyrocketed out of penny stock earlier today, breaking above $5 for the first time since April 2024 to hit a 52-week high of $6.30. Over the last 12 months, the equity has added 147.7%
Options traders are flocking to Lithium Americas stock, with 278,000 calls and 56,000 puts exchanged so far today, which is 94 times the volume typically seen at this point. Most popular by far is the October 5.50 call, where new positions are being sold to open.
Meanwhile, ALB is pacing for its first gain in three sessions, while sporting a 36% three-month lead. The security bounced off support at the 60-day moving average earlier this month and is now nearing its August peak.
The options pits have been much more optimistic than usual toward Albemarle stock. Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), ALB's 50-day call/put volume ratio of 3.66 sits higher than all other annual readings.
