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Barchart
Barchart
Will Ashworth

Heavy Options Trading on Opendoor Raises Bullish-Bearish Debate

Opendoor OPEN Eric Wu Keith Rabois Shopify Kaz Nejatian Khosla Ventures OTM

Opendoor Technologies (OPEN) yesterday announced that it had hired Shopify’s Chief Operating Officer, Kaz Nejatian, as its new CEO. The online real estate platform stock surged 80% on the news. 

In Thursday trading, more than 1.05 billion shares of its stock traded, nearly three times the average daily volume. More importantly, as it relates to my commentary on unusual options activity, the stock's options volume was 3.77 million on the day, over three times the average daily volume. 

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