Options activity in MiniMax Group has surged dramatically, with volume hitting 90,300 contracts—nearly four times the 20-day average—following reports that a Saudi entity has adopted the company's M3 model to build a national artificial intelligence platform. The buzz pushed the stock close to its one-month high, with call options seeing 32,300 contracts traded against 58,000 put options.

The most active contract was the put option expiring September 11, 2026, at a strike price of HK$400, which saw its premium fall sharply. Meanwhile, substantial trading was recorded in near-month call options at the same HK$400 strike, expiring this month.

At the opening session, a block trade of 1,500 contracts in the September 2026 HK$400 call options was executed, carrying a notional value of HK$11.3 million. The stock climbed as much as 11% during intraday trading before settling 1.8% higher at HK$361.40.