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:
- SIRI Weekly Jun29 5.5 calls (volume: 2090, open int: 340, implied vol: ~92%, prev day implied vol: 61%). We noted activity in the Weekly Jun29 3.5 calls yesterday (see 6/20 13:23 OPTNX). Co is expected to report earnings late July.
- INTC Jun 31 calls (volume: 14.6K, open int: 19.4K, implied vol: ~36%, prev day implied vol: 33%). Co is expected to report earnings late July.
- PLTR Jun 24.5 calls are seeing interest with the underlying stock down 7% (volume: 14.8K, open int: 11.2K, implied vol: ~41%, prev day implied vol: 39%). Stock was downgraded to Sell from Neutral at Monness Crespi & Hardt; tgt $20. Co is expected to report earnings early August.
Bearish Put Activity:
- CVNA Sep 75 puts (volume: 25.1K, open int: 510, implied vol: ~65%, prev day implied vol: 55%). 25K traded in a single transaction. Co is expected to report earnings early August.
- SMCI Jun 850 puts (volume: 4570, open int: 3710, implied vol: ~78%, prev day implied vol: 73%). Co is expected to report earnings early August.
Sentiment: The CBOE Put/Call ratio is currently: 0.87, VIX: (13.07, -0.21, -1.6%).
Today is options expiration -- the last day to trade June equity options.
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