tech
Traders think this legacy tech stock is the ultimate quantum play
Options traders stormed into the stock, trading almost 200,000 contracts, on pace for 15 times the daily average of the past 30 days.
TL;DR
- Traders are showing strong interest in IBM due to a $1 billion U.S. government grant for quantum computing.
- Options trading volume for IBM surged to 15 times the daily average, with calls significantly outnumbering puts.
- The situation is compared to Intel's recovery after receiving government investment and a stake.
- One trader made a substantial bet on IBM's stock rising by over 30% by December 2028.
- IBM's stock had previously declined in sympathy with other cloud-focused businesses despite its own transformation.