Unusual Options Activity: Key Trades You Should Know About

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Find out what happening right now and get all the pieces of the puzzle on important data activity before the major news sources break the story and see what are the trends
 

•  26 Nov 2024
 

Today, several stocks have seen unusual options activity, signaling potential shifts in investor sentiment and possibly pointing to upcoming market movements. Let’s take a closer look at these trades and what they could mean for future stock performance.

Best Buy Co. $BBY caught our attention with a flurry of options trades. Out of 11 notable trades, 63% favored a bullish outlook, with 36% leaning bearish. Among the trades, there were 7 call options valued at $343,144, and 4 put options totaling $184,724. This mixed activity suggests that large investors are positioning themselves for a potential upside, though with a hedge against possible downside risk. Given that financial giants are involved, traders should keep an eye on Best Buy as it could indicate a larger move ahead, possibly linked to upcoming earnings or market trends affecting consumer electronics.

Celsius Holdings $CELH also saw significant options trades, with deep-pocketed investors placing large bearish bets. The trades pointed to a potential drop in price, reflecting caution or anticipation of a negative catalyst. While it’s unclear whether these trades are from institutional investors or wealthy individuals, the magnitude of these trades often signals that something major is on the horizon for Celsius. Investors should monitor this stock closely for any breaking news or shifts in sentiment that could explain this unusual activity.

Marvell Technology $MRVL is another stock with notable options activity. Large investors have taken a bearish stance, with significant trades in puts, which suggests a negative outlook for the company. Given the size and nature of these trades, it’s worth watching for potential announcements or market conditions that could drive Marvell’s stock lower. With the options market signaling caution, traders should be wary of upcoming volatility in this tech stock.

Occidental Petroleum $OXY displayed a more balanced mix of calls and puts today. While the majority of trades were bullish (12 calls for a total of $513,920), there were also some bearish moves (3 puts worth $99,595). The bullish sentiment could reflect investor optimism around oil prices or positive news related to the company’s operations. However, the smaller number of bearish trades might indicate some caution, suggesting that investors believe the upside potential is limited. Given the ongoing volatility in energy markets, Occidental’s future performance could hinge on global oil trends.

Lastly, United States Steel $X experienced mixed options activity, with 50% of trades reflecting a bullish outlook and 40% indicating bearish sentiment. There were 6 put trades for a total of $209,777, and 4 call trades totaling $132,808. This type of split suggests that investors are uncertain about the steel giant’s near-term prospects. A key factor to watch for in United States Steel could be developments in infrastructure or trade policy, which often impact the price of steel.

In summary, these stocks exhibit significant options activity that could indicate large market moves ahead. Investors should keep a close eye on these companies and watch for catalysts that could explain the options market’s reaction. #Unusual