DXC Technology saw unusually heavy call-options trading Friday, with investors purchasing 8,031 contracts. That was an 893% increase over the average daily volume of 809 contracts. The activity coincided with the stock reaching a new yearly high.
The surge suggests some options traders expect further gains. DXC shares have extended a sharp rally and are trading well above key moving averages.
The increased interest comes as the company’s revenue declines. Market optimism may reflect DXC’s cost-control measures and broader transformation efforts.
Earlier in the week, reports said DXC was in advanced talks to sell its insurance software unit for approximately $2.4 billion.