Unusual Options Activity, Mon 5/22/23

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• MRSN Jul 10 calls (volume: 2230, open int: 0, implied vol: ~169%, prev day implied vol: 121%). 2K traded in a single transaction. Co will present at an ASCO conference on June 3. Co is expected to report earnings early August.
• SNDL May 2 calls are seeing interest with the underlying stock up 8% (volume: 5120, open int: 700, implied vol: ~108%, prev day implied vol: 80%). Co is expected to report earnings early August.
  
• Direxion Daily S&P Biotech Bull 3x ETF (LABU) May 7 calls are seeing interest with the underlying stock up 7% (volume: 2190, open int: 3820, implied vol: ~93%, prev day implied vol: 80%).

Bearish Put Activity:

• GPS May 7 puts (volume: 1870, open int: 180, implied vol: ~163%, prev day implied vol: 130%). Co is confirmed to report earnings May 25 before the open.
• QRTEA Jun 1 puts (volume: 1250, open int: 0, implied vol: ~130%, prev day implied vol: 108%). 1950 contracts traded in a single transaction. Co is expected to report earnings late July.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.90, VIX: (17.04, +0.23, +1.4%).
June 16 is options expiration -- the last day to trade June equity options.