The Blubber

Numerous tickers experienced a solid push into the green during early trading this morning. Among these names are social media favorites Upstart Holdings, Inc. (NASDAQ:UPST) and Offerpad Solutions, Inc. (OPAD).

Upstart Holdings, Inc. (NASDAQ:UPST)

Unusual Whales has written about Upstart before, namely in a Nasdaq article outlining unusual options activity in late September. Throughout the last month, UPST has been on an impressive bull run, racking up more than a $92 increase in the last 30 days, a nearly 35% increase to reach over $362 per share. Options flow yesterday reflected this movement, as 59.44% of all premiums spent were flagged by Unusual Whales as bullish.

This morning has been no different. After opening at $352.50 and a minor pullback to $350.40, UPST stock price made a hard and fast push as high as $365.41, an additional $12.91 move in early trading.  The options flow from this morning demonstrated strong bullish sentiment the entire time, with 61.64% of all options premium flagged as bullish. Heavy focus on the November 19, 2021 expiration date for in the money calls, namely the $330 strike. Some longer dated calls are seen as well, with January 2023 calls flowing in on in the money strikes, as well.

Offerpad Solutions, Inc. (OPAD)

Offerpad Solutions, Inc. has also been subject of previous Unusual Whales publications. In mid-September, we discussed a Reddit fueled social media zerg, with OPAD reaching as high as $17 per share before a massive pullback to single digits.

Today, OPAD has reached as high as $9.10 per share, having closed yesterday (Wednesday, October 13) at $8.07 per share. Yesterday’s options flow (pictured above) for OPAD bore mostly lower premiums and volume orders, mostly bullish, represented by sold puts (which indicates an expectation that the stock price will rise). Today’s flow has a more bullish feel, with higher premiums and order volume.

Options orders for OPAD today revolve around close-dated put sells, namely the $10 strike for theweekly expiration of October 15th. We can also see some longer dated orders for the $15 call expiring January 19, 2024.
Both of these stocks (UPST and OPAD) have risen to prominence on social media numerous times over the last year. This exemplifies the importance of staying in the loop within the subreddits and Fintwit circles, and following the flow of social media.