Once in a while, you may also be able to use unusual options activity along with volume. I saw that ICLN had 10k OI on strikes above 30c. It's possible to say that some big money is pumping ICLN with the delta hedge (along with other clean energy stocks with their stupid price targets). At the same time, ICLN started making its rounds at other finance subs like r/stocks and r/stockmarket, getting even more pumped. You could see what happened to clean energy stocks last Friday 1/15. F in the chat for all those weeklies.
I'm still bullish on ICLN though, you almost can't go wrong with leaps, and buying in before the electoral college vote was the move. IV had a great pop but it settled down.
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End of January update, I almost fomo'ed into getting some calls but I had a strong feeling it was a dead cat bounce. When you pick up UOA, sometimes you get a feel for pump and dumps. Currently, all the 30c and 35c for different expirations have fallen drastically.
A small little note, I was watching ICLN pretty closely last year, and I saw tons of people on WSB say ICLN calls were free money, and they were right. This was before WSB had the spotlight on it so by the time anything on WSB got out to other subs, the top was in.
Had I bought and calls and held thinking ICLN would come back up, I'd be very sad. Congrats to anyone who made money on this.