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Halifax police investigating Monday morning Dartmouth death as suspicious | SaltWire #newsupdateNEW YORK - Options on Reddit drew a flurry of bullish bets on Monday as the social media platform's stock rallied as much as 16% after last week's strong market debut.
Some 39,000 options traded by 1:10 p.m. , with volume on pace to hit 62,000 contracts by the end of the day, Trade Alert data showed. April call options with strike prices of $50 to $75 were among the most actively traded Reddit contracts. Among puts, contracts guarding against a drop below $25 by mid-April were the most traded.
"Reddit trading is reminding me of meme stocks," said Matt Amberson, founder of options analytics service ORATS, referring to stocks with viral popularity among individual investors who often use options to express their views.Meme stocks emerged in 2020, led by GameStop whose price rose as much as 100 times over several months in 2021, largely on the sentiment of individual buyers connected through the Reddit community forum WallStreetBets.
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