Software name Bill Holdings Inc (NYSE:BILL) is surging today, last seen up 14.2% to trade at $53.16, after the company said it is exploring options to sell. Despite a mid-August rebound that lasted through early October, BILL remains down 38% in 2025, and reports said the pressure to sell is coming from active investor Starboard Value.
Today's pop has the shares headed for their best day since Aug. 28, eyeing a close above $52 for the first time since last month. The equity suffered a catastrophic selloff in early February after posting a grim second-quarter report, and has since been unable to maintain any efforts of recovery.
Despite its long-term chart underperformance, calls have been more popular than usual, per Bill Holdings stock's 50-day call/put volume ratio of 9.03 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 91% of readings from the past year.
Options bulls are chiming in following today's buzz, with calls running at triple the intraday average pace. So far, 5,815 calls have been exchanged in comparison to 1,138 puts, with the March 50 and January 15, 2027 70-strike calls seeing the most attention.
Options are looking affordable, too. This is per the stock's Schaeffer's Volatility Index (SVI) of 50%, which sits in the 12th percentile of annual readings. BILL also tends to outperform options traders' volatility expectations, per its Schaeffer's Volatility Scorecard (SVS) of 91 (out of 100).
