Traders are treating this legacy tech giant like the next 'meme' stock
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- Cisco shares rose roughly 15% over the past month as the company approaches its earnings report.
- Cisco options activity showed more than 75,000 call contracts traded by noon Friday versus about 16,000 puts, indicating strong bullish betting.
- Cisco implied volatility jumped to 47 on Friday, the highest level in over a year and comparable to the semiconductor index.
- Cisco the 100‑strike call expiring May 15 was the most‑traded contract, driving the surge in call premiums and attracting retail momentum traders.
Why it matters: Retail and professional options traders profit from the 15% Cisco rally and soaring call premiums, while sellers of puts and other options face steeper risk as implied volatility jumps to 47, the highest in a year.
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