Unusual Options Activity Tue 6/11/24

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:

• RIOT Weekly Jun14 10 calls (volume: 7.4K, open int: 10.2K, implied vol: ~79%, prev day implied vol: 73%). Co is expected to report earnings mid-August.
• SIRI Jun 2.5 calls (volume: 15.4K, open int: 590, implied vol: ~50%, prev day implied vol: 45%). 1330 contracts traded in a single transaction. Co is expected to report earnings mid-July.
• INTC Weekly Jun28 31.5 calls (volume: 2310, open int: 510, implied vol: ~33%, prev day implied vol: 31%). Co is expected to report earnings late July.
• WFC July 65 calls (volume: 20.6K, open int: 24.7K, implied vol: ~27%, prev day implied vol: 25%). 17.2K traded in a single transaction. Co at conference said older office buildings in large cities are seeing some stress related to commercial real estate. Co is confirmed to report earnings July 12 before the open.
  

Bearish Put Activity:

• X Weekly Jun14 36 puts (volume: 1200, open int: 0, implied vol: ~36%, prev day implied vol: 32%). Co is expected to report earnings late July. In late May, US Steel and Nippon Steel announced receipt of all non-U.S. regulatory approvals for merger.
• ORCL Jun 122 puts are seeing interest ahead of earnings tonight (volume: 1600, open int: 710, implied vol: ~36%, prev day implied vol: 33%).
  

Sentiment: The CBOE Put/Call ratio is currently: 0.90, VIX: (13.15, +0.41, +3.2%).
June 21 is options expiration -- the last day to trade June equity options.