ARM Holdings' stock has experienced a significant surge, with shares rising 13% as of January 22, 2025. The stock broke past the $150 range earlier in the week and continued its upward momentum, reaching $165.50. This rally has been accompanied by high implied volatility and robust options activity, including millions of dollars in call LEAPS and a notable 300% gain on $180 call options. ARM is now up 47% year-to-date, with some traders seeing gains as high as 1,400% on $160 calls. Sellers were noted at $183 and $185. The stock's performance has been attributed to strong demand and strategic long-term positions in options markets, including December 2026 $110 in-the-money calls.