Market Insights

Joby Aviation has jumped on a stream of positive headlines, and options traders are looking for more upside in the flying-taxi innovator.

This unusual activity was detected yesterday in the company, which is developing battery-powered aircraft for an app-based ride-sharing service:

• About 21,000 June 10.50 calls were purchased, mostly for $0.25. Volume was more than 200 times open interest at that strike, which indicates new money was put to work.
• About 7,700 contracts each traded in the July 9 calls and July 10 calls. The June 9s mostly fetched $1.10 and the June 10s priced for $0.50 and $0.55.
• More than 6,000 13-June 9 calls changed hands. Most of the contracts crossed the tape for $0.33 to $0.55.

Calls fix the level where a security can be purchased. They can gain value when prices rise but also expire worthless if a stock doesn’t appreciate.

Monday’s surge in activity continued a pattern of increased call volume that began on May 28 after Toyota Motor (TM) closed a $250 million investment. The deal supports JOBY’s certification and commercial development. It was also seen as a step toward a potential manufacturing partnership with the Japanese car giant.

Joby Aviation (JOBY), daily chart, with select indicators.

Seven days later, JOBY announced another deal with a Saudi company that plans to start passenger service in 2026.

The next headline came on June 6, when President Trump established an electrical vertical takeoff  (eVTOL) and landing program.

JOBY ended Monday’s session up 14 percent to $9.23. It’s fluctuated between about $4.50 and $11 for the last two years.

Monday’s option volume was about 4 times greater than the monthly average, according to TradeStation data. Calls accounted for a bullish 88 percent of the total.

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