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Thursday, May 11, 2023

Unusual Options Activity, Thur 5/11/23

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:

  • FUBO May 2 calls (volume: 5770, open int: 9650, implied vol: ~229%, prev day implied vol: 182%). 5K traded in a single transaction. Co is expected to report earnings mid-August.
  • PLX Aug 3 calls are seeing interest with the underlying stock down 11% (volume: 2030, open int: 240, implied vol: ~87%, prev day implied vol: 71%). Co is expected to report earnings mid-August.
  • ASRT Jan24 12 calls are seeing interest with the underlying stock up 5% (volume: 5540, open int: 5090, implied vol: ~81%, prev day implied vol: 66%). 5400 contracts traded in a single transaction. Co is expected to report earnings early August.

Bearish Put Activity:

  • HRZN Jun 10 puts (volume: 1640, open int: 830, implied vol: ~82%, prev day implied vol: 71%). Co is expected to report earnings late August.
  • SHOP May 62 puts (volume: 7010, open int: 3630, implied vol: ~45%, prev day implied vol: 41%). Co is expected to report earnings late July.

Sentiment: The CBOE Put/Call ratio is currently: 0.96, VIX: (17.20, +0.26, +1.5%).
May 19 is options expiration -- the last day to trade May equity options.

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