Unusual Options Activity, Fri 6/9/23

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:

• NEXT Jun 7.5 calls (volume: 2700, open int: 10, implied vol: ~282%, prev day implied vol: 189%). 2500 contracts traded in a single transaction. Co is expected to report earnings late July.
• SPCE Jun 4 calls (volume: 2510, open int: 1920, implied vol: ~171%, prev day implied vol: 98%). Co is expected to report earnings early August.
• GM Jun 38 calls (volume: 29.9K, open int: 30, implied vol: ~105%, prev day implied vol: 40%). Co announces collaboration with Tesla to integrate the North American Charging Standard connector design into its EVs starting in 2025. Co is scheduled to present at two conferences next week. Co is confirmed to report earnings July 25 before the open.
• FTCH Jun 6 calls are seeing interest with the underlying stock up 7% (volume: 21.2K, open int: 3.6K, implied vol: ~87%, prev day implied vol: 83%). 2200 contracts traded in a single transaction. Co is expected to report earnings mid-August.
  

Bearish Put Activity:

• VanEck Semiconductor ETF (SMH) Jun 105 puts (volume: 28.0K, open int: 0, implied vol: ~115%, prev day implied vol: 103%).
  

Sentiment: The CBOE Put/Call ratio is currently: 0.87, VIX: (13.88, +0.23, +1.7%).
June 16 is options expiration -- the last day to trade June equity options.