Unity Software Inc. (U) saw its stock price soar by 5.00% in Thursday's intraday trading session, fueled by investor enthusiasm reflected in elevated call option activity.
The San Francisco-based game software development company experienced a surge in bullish options trading, with call volume reaching 28,355 contracts, nearly double the expected level. This heightened activity drove Unity's implied volatility up by over 7 points to 83.33%.
The robust call option interest suggests that traders are positioning themselves for further upside in Unity Software's share price. While the exact catalyst for the increased optimism remains unclear, this trading pattern has likely contributed to the stock's remarkable 5% gain on the day.
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