Unusual Options Activity Tue 5/14/24

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:

• PLUG Weekly May24 4 calls are seeing interest with the underlying stock up 24% (volume: 2900, open int: 840, implied vol: ~168%, prev day implied vol: 89%). Co is expected to report earnings early August.
• LCID May 3.5 calls are seeing interest with the underlying stock up 11% (volume: 31.3K, open int: 19.0K, implied vol: ~123%, prev day implied vol: 79%). 1500 contracts traded in a single transaction. Co is expected to report earnings late July.
• CCL May 15 calls (volume: 2070, open int: 28.1K, implied vol: ~38%, prev day implied vol: 35%). Co is expected to report earnings mid-June.

Bearish Put Activity:

• GME May 20 puts are seeing interest with the underlying stock up 33% (volume: 13.3K, open int: 10.6K, implied vol: ~342%, prev day implied vol: 135%). Stock seeing strong gains amid meme interest. Co is expected to report earnings early June.
• NU May 10.5 puts (volume: 6070, open int: 980, implied vol: ~42%, prev day implied vol: 36%). Co is expected to report earnings early August.

Sentiment: The CBOE Put/Call ratio is currently: 0.89, VIX: (13.60, +0.00, +0.0%).
This week is options expiration -- Friday, May 17th is the last day to trade May equity options.