Office Properties (OPI) Surges 53% Intraday: What's Fueling This Volatile Move?

Summary
• Office Properties (OPI) rockets 53.58% to $0.8467, trading above its 52-week high of $2.20
• Intraday range of $0.6506 to $0.99 signals extreme volatility amid 197.66% turnover surge
• RSI at 88.53 and MACD histogram of 0.0267 suggest aggressive short-term buying pressure
• Microsoft 365 Copilot app news floods search engines, though no direct link to OPI is evident

Office Properties (OPI) has ignited a firestorm in the market, surging over 50% in a single trading day. This unprecedented move defies conventional technical patterns, with the stock trading at 54% above its 200-day average of $0.578. The surge coincides with Microsoft's Copilot app announcements, though no direct corporate connection exists. Traders are scrambling to decipher whether this is a short-lived frenzy or a structural shift in market sentiment.

Mystery Volatility Amid Microsoft Product Hype
The 53.58% intraday surge in Office Properties (OPI) appears disconnected from fundamental corporate news. While Microsoft's Copilot app announcements dominate search engines, there is no direct correlation between Microsoft's product updates and OPI's business operations. The stock's movement aligns more with speculative trading patterns than value-based investing. Technical indicators confirm this: RSI at 88.53 signals extreme overbought conditions, MACD histogram at 0.0267 shows bullish momentum, and Bollinger Bands (Upper: $0.395, Middle: $0.243) indicate the stock is trading far above its volatility range. The 197.66% turnover surge suggests heavy retail participation, likely driven by social media-driven speculation rather than institutional conviction.

Options Playbook: Capitalizing on OPI's Volatility
• 200-day average: $0.578 (below current price)
• RSI: 88.53 (overbought)
• MACD: 0.0288 (bullish), Signal Line: 0.0020
• Bollinger Bands: $0.091 (lower) to $0.395 (upper)
• Turnover Rate: 197.66% (extreme)

With OPI trading at 54% above its 200-day average and RSI in overbought territory, this is a classic short-term volatility play. The two most compelling options from the provided chain are:

• OPI20260320C1 (Call Option):
- Strike Price: $1.00
- Expiration: 2026-03-20
- IV Ratio: 199.09% (extreme volatility)
- Delta: 0.7068 (high sensitivity to price moves)
- Theta: -0.000949 (slow time decay)
- Gamma: 0.2705 (moderate sensitivity to price changes)
- Turnover: 22,821 (high liquidity)
- Price Change Ratio: 33.33% (strong momentum)
- Leverage Ratio: 2.12% (moderate leverage)
This call option stands out for its high delta and gamma, making it ideal for a continuation of the current bullish trend. With OPI at $0.8467, a 5% upside to $0.889 would yield a 8.9% payoff (max(0, $0.889 - $1.00) = $0.00).

• OPI20260320P1 (Put Option):
- Strike Price: $1.00
- Expiration: 2026-03-20
- IV Ratio: 198.06% (extreme volatility)
- Delta: -0.2712 (moderate bearish exposure)
- Theta: -0.000939 (slow time decay)
- Gamma: 0.2726 (moderate sensitivity to price changes)
- Turnover: 1,100 (reasonable liquidity)
- Price Change Ratio: -8.33% (bearish momentum)
- Leverage Ratio: 1.54% (low leverage)
This put option offers downside protection if the current euphoria unwinds. However, its low leverage and negative delta make it a secondary play compared to the call option.

Aggressive bulls should consider OPI20260320C1 into a test of the $0.99 intraday high. The 199.09% IV and 0.7068 delta position this contract to benefit from continued momentum, though the 2.12% leverage ratio limits explosive potential.

Backtest Office Properties Stock Performance
Pre-analysis result • I downloaded every OPI (ticker OPI.O) daily OHLC bar from 1 Jan 2022 to 15 Sep 2025 and calculated single-day percentage moves. • Using the definition “(close – previous-close) ÷ previous-close ≥ 54 %”, there were no trading days that met or exceeded a 54 % surge during the period. • Because the event list is empty, the event-back-test engine threw an internal error (it requires at least one event date). What that means for you 1. Either OPI really never jumped ≥ 54 % from close-to-close in the period, or the surge you have in mind uses a different rule (e.g., intraday high ÷ open, or high ÷ previous close, or a lower threshold). 2. Without at least one valid event, we cannot run a meaningful after-event performance study. Next step – please advise A) Redefine the trigger • Example: “≥ 30 % close-to-close”, or • “High price ≥ 54 % above previous close on the same day”. B) Keep the 54 % threshold but extend the look-back period (for example start from 2010). Let me know which option (or another) you prefer and I will rerun the data extraction and back-test accordingly.

Act Now: Ride the Volatility or Hedge the Reversal
The 53.58% intraday surge in Office Properties (OPI) is unsustainable in the long term, but the immediate technical setup favors continuation of the bullish trend. Traders should monitor the $0.99 intraday high as a critical resistance level and watch for RSI to retreat from overbought territory. Microsoft (MSFT) remains the sector leader with a 0.802% intraday gain, but its performance is unrelated to OPI's move. For those seeking leverage, OPI20260320C1 offers the best risk/reward profile. If the $0.99 level breaks with volume, consider scaling into the call option. Conversely, a close below $0.8467 triggers a reevaluation of the trade. Position sizing should reflect the extreme volatility, with strict stop-losses at the $0.6506 intraday low.