Office Properties (OPI) Surges 83% on Explosive Intraday Rally – What’s Fueling the Volatility?

Summary
• Office Properties (OPI) rockets 83.54% to $0.5666, defying a $0.3087 previous close
• Intraday range spans $0.3631 to $0.778, with turnover surging 348% to $252.67M
• Technicals show RSI at 73.78 (overbought), MACD bullish, and 52W high at $2.44

Office Properties (OPI) has ignited a frenzy in the market, surging over 80% in a single trading day. The stock’s meteoric rise defies conventional logic, with no official news to anchor the move. Traders are scrambling to decipher whether this is a short-term speculative play or a sign of deeper structural shifts. With turnover exploding and technical indicators flashing bullish signals, the question is: is this a buying opportunity or a cautionary tale?

Options Volatility and Short-Term Bullish Momentum Drive OPI’s Surge
The absence of company-specific news in OPI’s latest filings suggests the move is driven by speculative options activity and short-term technical momentum. The stock’s 83.54% intraday gain aligns with a sharp rally in call options, particularly the OPI20251219C0.5 contract, which saw a 400% price change ratio and 2150 volume. High implied volatility (219.09%) and a delta of 0.7275 indicate aggressive bullish positioning. Meanwhile, the MACD histogram (0.0088) and RSI (73.78) confirm a short-term overbought condition, suggesting momentum-driven buying rather than fundamental catalysts.

High-Leverage Call Options and ETFs for Volatility-Driven OPI Bets
• 200-day average: $0.581 (current price below)
• RSI: 73.78 (overbought)
• MACD: 0.0042 (bullish)
• Bollinger Bands: Current price ($0.5666) far above upper band ($0.2741)

Key levels to watch include the 200-day support (0.213–0.244) and the 52W high ($2.44). While the RSI suggests overbought conditions, the MACD and options data indicate short-term bullish momentum. No leveraged ETFs are available for OPI, but options offer amplified exposure.

Top Options Picks:
• OPI20251219C0.5
- Type: Call
- Strike: $0.5
- Expiry: 2025-12-19
- IV: 219.09% (extreme volatility)
- Leverage: 2.23%
- Delta: 0.7275 (high sensitivity)
- Theta: -0.000741 (moderate time decay)
- Gamma: 0.4958 (high sensitivity to price swings)
- Turnover: $63,820
- Payoff at 5% upside: $0.0333 per share
- Why it stands out: High liquidity and gamma make it ideal for capitalizing on continued short-term momentum.

• OPI20260320C0.5
- Type: Call
- Strike: $0.5
- Expiry: 2026-03-20
- IV: 205.98%
- Leverage: 1.86%
- Delta: 0.7558
- Theta: -0.000450
- Gamma: 0.3354
- Turnover: $41,113
- Payoff at 5% upside: $0.0333 per share
- Why it stands out: Longer-dated option with lower time decay, offering more flexibility for sustained rallies.

Action: Aggressive bulls may consider OPI20251219C0.5 into a bounce above $0.5666, leveraging high gamma for rapid gains if the trend continues.

Backtest Office Properties Stock Performance
I’ve retrieved the full daily OHLC history for OPI.O from 2022-01-01 through today and programmatically identified every trading day whose intraday move satisfied  (high – low) ÷ low ≥ 0.84 (i.e., an 84 % or greater intraday surge). Unfortunately, when I passed those event dates to our dedicated event-study engine, the engine encountered an internal processing error (“convert_statistics is not defined”). In short, the visual performance report could not be generated automatically.Before we escalate the issue, there are a couple of practical work-arounds we can pursue:1. Manual event study  • I can quickly summarise, in text form, the number of qualifying surge days and the average 1-, 5-, 10- and 20-day forward returns, along with max/min outcomes.  • This avoids the failing visual module and still answers the core question: “what typically happens after such a surge?”2. Strategy simulation instead of event study  • Treat each surge day as a signal to buy at the next session’s open and hold for a fixed period (e.g., 5 sessions).  • This can be run through the strategy-backtest engine (which is functioning normally) and will produce a full equity-curve, risk stats, etc.3. Adjust the surge threshold (e.g., 60 % or 50 %) to increase the sample size, in case the very high 84 % cut-off leaves too few events to analyse robustly.Please let me know which option (or combination) you’d prefer, or if you’d like me to attempt the original event module again after a brief delay.

OPI’s Volatility-Driven Rally: Ride the Wave or Exit Before the Crash?
The 83.54% surge in OPI is a textbook case of speculative momentum, fueled by options activity and overbought technicals. While the RSI and MACD suggest a potential pullback, the options data—particularly the OPI20251219C0.5 contract—indicates strong short-term bullish conviction. Investors should monitor the 200-day support (0.213–0.244) and the 52W high ($2.44) for directional clues. Microsoft (MSFT), the sector leader, rose 1.94% today, but OPI’s move is decoupled from broader software trends. Action: For high-risk traders, OPI20251219C0.5 offers amplified exposure if the $0.5666 level holds; otherwise, tighten stops below $0.3631 to avoid a potential reversal.