Unusual Options Activity Fri 1/12/24

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:

• ALT Jan 11.5 calls are seeing interest with the underlying stock up 4% (volume: 2100, open int: 1000, implied vol: ~236%, prev day implied vol: 158%). Co is expected to report earnings mid-February.
• TSM Jan 103 calls (volume: 16.1K, open int: 500, implied vol: ~45%, prev day implied vol: 27%). 1200 contracts traded in a single transaction. Co is confirmed to report earnings January 18 before the open.
• WW Feb 6.5 calls are seeing interest with the underlying stock down 5% (volume: 8570, open int: 20, implied vol: ~107%, prev day implied vol: 96%). NY Times reported that there is no evidence that weight loss drugs cause suicidal thoughts. Co is expected to report earnings late February.
• ARDX Feb 11 calls (volume: 2960, open int: 10, implied vol: ~78%, prev day implied vol: 74%). Co is expected to report earnings early March.
  

Bearish Put Activity:

• QCOM Jan 141 puts (volume: 1620, open int: 10, implied vol: ~47%, prev day implied vol: 31%). Co is confirmed to report earnings January 31 after the close.
• IOT Feb 31 puts (volume: 3230, open int: 0, implied vol: ~54%, prev day implied vol: 50%). Co is expected to report earnings late February.
  

Sentiment: The CBOE Put/Call ratio is currently: 1.04, VIX: (12.70, +0.26, +2.1%).
January 19 is options expiration -- the last day to trade January equity options.