Shares of Nasdaq-listed Hyperliquid Strategies jumped on elevated call option activity ahead of Trump’s comments on crypto regulation.
Shares of Hyperliquid Strategies (PURR) closed at $9.39, up 30.4%, following Trump’s indication of a legal pathway for Hyperliquid in the U.S. The company clarified it is independent of the Hyperliquid protocol.
Earlier in the session, a trader purchased 719 October $8 call options for $0.90 each, later valued at $2.45 by market close. The position’s unrealized gain reached approximately $111,000. Volume for the contract surged to 2,575, far exceeding its 30-day average.
The CFTC had previously disclosed a July 15 meeting with Hyperliquid Labs and Hyperliquid Strategies, though no evidence of insider trading has emerged.