Between 09:55-10:00, 1189 Aug 75 call contracts were purchased at the ask, with the largest trade of 246 contracts at $.35. The underlying stock surged momentarily at 09:58, so it doesn't appear to be a hedge to short - rather a plain vanilla long bet that shares will eclipse $75 (or +17%) within 10 days.
Never say never... I will take some time over the weekend to contemplate whether such out of the money calls out as far as $75 might not be worth a shot next week. If I can get them a bit cheaper I would venture a few hundred dollars. Nothing ventured nothing gained...
If the options trades were being observed contemporaneously which it sounds as though it were then the guy would have had no problem seeing the fill on the ask noting that the bid was under by a spread of a dime probably.
That the options controlling a hundred thousand shares went off that far out of the money is very interesting by my reckoning. It's a speculative gesture to be sure. But it speaks of a short squeeze in the making since the strike price is now nine smacker out of the money. I like it. I would not do it myself. But I like the confidence. I like the trade. My calls are in the money and profitable and I am prepared to let them ride this dogging where she leads.