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Wednesday, May 24, 2023

Unusual Options Activity, Wed 5/24/23

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:

  • GLW May 32 calls (volume: 5870, open int: 10, implied vol: ~41%, prev day implied vol: 28%). 1300 contracts traded in a single transaction. Co is expected to report earnings late July.
  • ETRN Oct 8 calls (volume: 210.3K, open int: 0, implied vol: ~54%, prev day implied vol: 46%). 100K traded in a single transaction. Co is expected to report earnings early August.
  • MODG Jun 17.5 calls (volume: 8.5K, open int: 1.1K, implied vol: ~47%, prev day implied vol: 40%). Co is scheduled to present at a Topgolf Callaway Brands Virtual Investor Event on June 1. Co is expected to report earnings early August.

Bearish Put Activity:

  • RY Jun 90 puts are seeing interest ahead of earnings tomorrow before the open (volume: 1930, open int: 140, implied vol: ~26%, prev day implied vol: 22%).
  • MPW Jan24 8 puts (volume: 5310, open int: 300, implied vol: ~58%, prev day implied vol: 56%). 3400 contracts traded in a single transaction. Co announces prospect recapitalization transactions. Co is expected to report earnings early August.

Sentiment: The CBOE Put/Call ratio is currently: 1.00, VIX: (20.42, +1.89, +10.2%).

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