Call Traders Blast Applied Digital Stock Amid 3-Year Highs

The company inked a $7 billion deal with CoreWeave

Laura McCandless

Deputy Editor

Jun 4, 2025 at 3:23 PM

Digital infrastructure stock Applied Digital Corp (NASDAQ:APLD) was last seen up 29.2% at $13.24, extending this week's rally after the company announced a 15-year, $7 billion deal with cloud service name CoreWeave (CRWV) to help build artificial intelligence (AI) data centers. Notably, both companies are backed by Nvidia (NVDA).

Options bulls are blasting APLD after the news. So far today, 489,000 contracts have been exchanged, which is already 6 times the amount typically seen in an entire session, and 392,000 of them are calls. The weekly 6/6 13-strike call is the most popular, followed by the 15-strike call in the same series, with new positions opening at both.

Today's pop has APLD jumping to three-year highs, after a 48% jump on Monday. Since the start of 2025, the equity is up 73%.

Several analysts lifted their price targets after the news, but the 12-month consensus target price of $13.55 is still a slim premium to current levels, indicating there is room for more bull notes. Plus, short interest represents 35.8% of the stock's available float.

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