D-Wave Quantum Joins Tesla, Nvidia in Most Active Stock Options as Shares Climb 26%: Options Chatter

Luzi Ann Santos joined discussion · May 21 00:00

$D-Wave Quantum (QBTS.US)$’s options volume jumped five-fold as the stock climbed 26% Tuesday after the company announced the release of its sixth generation quantum computer.

Advantage2, the trademark for the company’s quantum computing system, is “so powerful that it can solve hard problems outside the reach of one of the world’s largest exascale GPU-based classical supercomputers,” CEO Alan Baratz said in a press release Tuesday morning.

Tuesday's rally took this month’s gain to more than 140%, the steepest such climb this year for a stock that traded below $2 for most of 2024. Shares of the company and its rivals $Rigetti Computing (RGTI.US)$ and $Quantum Computing (QUBT.US)$ took off in December after $Alphabet-A (GOOGL.US)$ said its quantum computer solved in just five minutes a problem that would take supercomputers around 10 septillion years.

(To see D-Wave's options chain, click here. For the options ranking led by Tesla and Nvidia, click here.)

D-Wave Quantum Joins Tesla, Nvidia in Most Active Stock Options as Shares Climb 26%: Options Chatter

More than 559,370 call and put options changed hands across 10 expiration dates, landing D-Wave in fifth place for the most active stock options, behind $Tesla (TSLA.US)$, $NVIDIA (NVDA.US)$, $Alphabet-A (GOOGL.US)$ and $Apple (AAPL.US)$. That compares with the 20-day average volume of 116,095 contracts for the quantum stock, according to data compiled by Bloomberg. (For Nvidia's options chain, click here. To see Tesla's click here.)

Almost half of that volume are in contracts expiring in three days, exchange data showed. Call options that give the holders the right to buy the stock at $17 by Friday attracted the heaviest trading activities, with 25,800 contracts traded, more than 38X the open interest.

The price of those call options soared 963% after the stock rally pushed the contract in the money. Not everyone is confident that the rally has staying power though.

As shares jumped, an active seller collected a $752,410 premium for selling call options that give the holder the right to buy 225,000 D-Wave shares at $13 each by Friday. That strike price is more than $3 below the current stock price.

(To see the unusual options activities, click here. For the options market page, click here.)

Share your thoughts on D-Wave in the comments section. Do you expect the rally to continue? Let your voice be heard by voting below. And if you want to read more options column like this one on Tesla, or this one on Microsoft, follow me here.

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