Unusual Options Activity, Thur 7/20/23

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:

• HOG Jul 38 calls (volume: 2060, open int: 20, implied vol: ~81%, prev day implied vol: 48%). Co is confirmed to report earnings July 27 before the open.
• CHWY Jul 37.5 calls are seeing interest with the underlying stock down 6% (volume: 4140, open int: 120, implied vol: ~69%, prev day implied vol: 48%). Co is expected to report earnings late August.
• ProShares Short Bitcoin (BITI) Aug 18 calls (volume: 1540, open int: 0, implied vol: ~46%, prev day implied vol: 43%).
  

Bearish Put Activity:

• AR Jul 25 puts (volume: 2590, open int: 0, implied vol: ~60%, prev day implied vol: 53%). Co is confirmed to report earnings July 26 after the close.
• DOW Jul 50 puts (volume: 2820, open int: 40, implied vol: ~39%, prev day implied vol: 37%).  Co is confirmed to report earnings July 25 before the open.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.83, VIX: (13.73, -0.03, -0.2%).
Tomorrow is options expiration -- the last day to trade July equity options.