Trade Of The Week: Nikola Corporation

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After dropping out of the spotlight in recent months, options trading in Nikola (NKLA) is back. The electric truck designer is expecting to install hydrogen filling stations in CA, and the stock jumped nearly 15% on the day the news broke.

Considering the company hasn’t produced anything meaningful to date, the crowd took this as very bullish, with about 70% of the options activity in calls. In terms of noteworthy trades, there were a couple of large blocks of out-of-the-money calls purchased that expire in May.

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