Unusual Options Activity Fri 10/6/23

 

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:

• MU Oct 68 calls (volume: 3940, open int: 8070, implied vol: ~67%, prev day implied vol: 46%).  2K traded in a single transaction. Co starting construction on memory fab in Idaho; expected to come online in phases starting in 2025, with DRAM production ramping over the second half of the decade. Co is expected to report earnings late December. 
• QCOM Oct 110 calls (volume: 3020, open int: 760, implied vol: ~43%, prev day implied vol: 35%). The Biden administration is expected to soon tighten chip tool restrictions against China. Co is confirmed to report earnings November 1 after the close.
• AVGO Oct 840 calls (volume: 1920, open int: 640, implied vol: ~37%, prev day implied vol: 34%). Co is expected to report earnings mid-November.
  

Bearish Put Activity:

• UPST Oct 25 puts (volume: 2610, open int: 410, implied vol: ~159%, prev day implied vol: 100%). Co is expected to report earnings early November.
• SIRI Nov 4 puts (volume: 10.4K, open int: 10, implied vol: ~91%, prev day implied vol: 88%). 2500 contracts traded in a single transaction. Co is confirmed to report earnings November 3 before the open.

Sentiment: The CBOE Put/Call ratio is currently: 1.30, VIX: (17.64, -0.85, -4.6%).
October 20 is options expiration -- the last day to trade October equity options.