Spotted something interesting on the options flow - back in mid-2023, someone dumped a massive $1.16M in call contracts on Li Auto (LI), all expiring in just 3 days with a $20 strike. The premium was wild, sitting at the 99.90th percentile for unusual trades. Definitely caught the algos' attention.

What's more intriguing is the mixed signals from the big money. Some major funds like Aspex have been aggressively loading up, increasing their LI position by over 40%, while Renaissance Technologies actually trimmed their stake. The put/call ratio sitting at 0.79 suggests traders are leaning bullish overall, but the quarterly data shows total institutional ownership actually dropped 34% - so it's not a clean consensus.

Analysts were forecasting around 15% upside back then, with price targets ranging from $32.89 to $63.37. The company was also looking at some solid revenue growth projections. Whether that call trade was a bet on a bounce or a hedge, hard to say - but the flow data definitely made waves at the time.