PayPay's American depositary shares were up $1.01, or 6.92%, at $15.67 in late-morning trading on the Nasdaq. The company has a market value of about $10.6 billion.

Options expiration cited

PayPay did not release any company news on Friday.

Investing.com attributed the gain in part to the expiration of a closely watched options position. A put option expiring Oct. 16 with a strike price of $7.50, about half the stock's recent trading level, had carried some of the highest implied volatility of any equity option as of late........

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