Trade of the Week: WKHS

Options Portfolio Manager – Investors Alley • Jun 28, 2021 at 6:15 AM EDT

The meme stocks have continually been the most active traded options contracts over the last few weeks.

(Video length 00:05:13)

The meme stocks have continually been the most active traded options contracts over the last few weeks. However, you never know which meme stock is going to be in the spotlight from week to week. This past week, Workhorse (WKHS) was one of the big movers, up nearly 10% on one day in particular.

On that day, nearly 250,000 options contracts trades, 2x the normal amount. While 87% of the trades were calls (which tend to be bullish), the biggest trade of the day was a put spread. This trade could be a directional trade or a hedge against a down move in the stock.

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