Unusual Options Activity Wed 8/2/23

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:

• CRWD Aug 160 calls are seeing interest with the underlying down 7% (volume: 2410, open int: 690, implied vol: ~61%, prev day implied vol: 47%). Co is expected to report earnings late August.
  
• JNJ Aug 172.5 calls (volume: 23.2K, open int: 1090, implied vol: ~21%, prev day implied vol: 18%). Health Canada authorizes TECVAYLI a First-in-class bispecific antibody for the treatment of patients with relapsed or refractory multiple myeloma. Co is scheduled to present at a conference on August 15. Co is expected to report earnings mid-October.
  

Bearish Put Activity:

• SQ Aug 72 puts are seeing interest with the underlying stock down 5% ahead of earnings tomorrow after the close (volume: 1920, open int: 260, implied vol: ~132%, prev day implied vol: 105%). 2K traded in a single transaction.
• GILD Aug 73 puts are seeing interest with the ahead of earnings tomorrow after the close  (volume: 2070, open int: 40, implied vol: ~54%, prev day implied vol: 47%).
  

Sentiment: The CBOE Put/Call ratio is currently: 0.84, VIX: (16.09, +2.16, +15.5%).
August 18 is options expiration -- the last day to trade August equity options.