Bullish Oracle Options Holders In Line for $1.5 Billion Windfall

Investors who owned options betting on a rally in Oracle Corp. saw the value of their holdings jump by around $1.5 billion after the software maker’s stock soared on strong demand for its cloud computing business.

Shares were up 36% at about $328 in afternoon trading Wednesday, gaining the most since 1992, on the aggressive outlook that the company released following the previous day’s close.

The tally of paper gains — based on data compiled by Bloomberg including the difference between Tuesday’s closing price for the options and the current value — counts the almost 330,000 call option contract ...