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Fri. 24 Sep 2021, 2:00pm ETBenzinga
In: Options

This unusual options alert can help traders discover the next big trading opportunities. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. Unusual trading activity could push option prices to exaggerated or underestimated levels.

Below are some instances of unusual options activity happening in the Communication Services sector:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
FB CALL SWEEP BEARISH 09/24/21 $350.00 $71.4K 14.7K 70.1K
SNAP CALL SWEEP BEARISH 10/01/21 $81.00 $135.6K 11.4K 8.7K
ROKU CALL TRADE BULLISH 09/24/21 $322.50 $38.4K 670 4.7K
VIAC CALL SWEEP BULLISH 10/01/21 $40.00 $32.4K 2.2K 1.6K
AMC CALL SWEEP BEARISH 10/08/21 $55.00 $46.4K 1.3K 1.4K
TWTR CALL SWEEP BEARISH 12/17/21 $70.00 $147.0K 8.5K 1.3K
Z PUT SWEEP BEARISH 09/24/21 $93.00 $37.0K 620 762
LUMN CALL SWEEP BULLISH 01/21/22 $10.00 $135.0K 5.9K 460
TRIP CALL SWEEP NEUTRAL 11/19/21 $42.00 $33.6K 20 295

Explanation

These bullet-by-bullet explanations have been constructed using the accompanying table.

• For FB (NASDAQ:FB), we notice a call option sweep that happens to be bearish, is expiring today. Parties traded 279 contract(s) at a $350.00 strike. This particular call needed to be split into 71 different trades to become filled. The total cost received by the writing party (or parties) was $71.4K, with a price of $252.0 per contract. There were 14788 open contracts at this strike prior to today, and today 70190 contract(s) were bought and sold.

• For SNAP (NYSE:SNAP), we notice a call option sweep that happens to be bearish, expiring in 7 day(s) on October 1, 2021. This event was a transfer of 500 contract(s) at a $81.00 strike. This particular call needed to be split into 38 different trades to become filled. The total cost received by the writing party (or parties) was $135.6K, with a price of $275.0 per contract. There were 11490 open contracts at this strike prior to today, and today 8755 contract(s) were bought and sold.

• For ROKU (NASDAQ:ROKU), we notice a call option trade that happens to be bullish, is expiring today. Parties traded 265 contract(s) at a $322.50 strike. The total cost received by the writing party (or parties) was $38.4K, with a price of $145.0 per contract. There were 670 open contracts at this strike prior to today, and today 4773 contract(s) were bought and sold.

• Regarding VIAC (NASDAQ:VIAC), we observe a call option sweep with bullish sentiment. It expires in 7 day(s) on October 1, 2021. Parties traded 405 contract(s) at a $40.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $32.4K, with a price of $80.0 per contract. There were 2212 open contracts at this strike prior to today, and today 1600 contract(s) were bought and sold.

• Regarding AMC (NYSE:AMC), we observe a call option sweep with bearish sentiment. It expires in 14 day(s) on October 8, 2021. Parties traded 762 contract(s) at a $55.00 strike. This particular call needed to be split into 39 different trades to become filled. The total cost received by the writing party (or parties) was $46.4K, with a price of $61.0 per contract. There were 1318 open contracts at this strike prior to today, and today 1432 contract(s) were bought and sold.

• For TWTR (NYSE:TWTR), we notice a call option sweep that happens to be bearish, expiring in 84 day(s) on December 17, 2021. This event was a transfer of 350 contract(s) at a $70.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $147.0K, with a price of $420.0 per contract. There were 8597 open contracts at this strike prior to today, and today 1310 contract(s) were bought and sold.

• For Z (NASDAQ:Z), we notice a put option sweep that happens to be bearish, is expiring today. Parties traded 218 contract(s) at a $93.00 strike. This particular put needed to be split into 19 different trades to become filled. The total cost received by the writing party (or parties) was $37.0K, with a price of $170.0 per contract. There were 620 open contracts at this strike prior to today, and today 762 contract(s) were bought and sold.

• Regarding LUMN (NYSE:LUMN), we observe a call option sweep with bullish sentiment. It expires in 119 day(s) on January 21, 2022. Parties traded 450 contract(s) at a $10.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $135.0K, with a price of $300.0 per contract. There were 5936 open contracts at this strike prior to today, and today 460 contract(s) were bought and sold.

• For TRIP (NASDAQ:TRIP), we notice a call option sweep that happens to be neutral, expiring in 56 day(s) on November 19, 2021. This event was a transfer of 272 contract(s) at a $42.00 strike. This particular call needed to be split into 41 different trades to become filled. The total cost received by the writing party (or parties) was $33.6K, with a price of $124.0 per contract. There were 20 open contracts at this strike prior to today, and today 295 contract(s) were bought and sold.

Options Alert Terminology
- Call Contracts: The right to buy shares as indicated in the contract.
- Put Contracts: The right to sell shares as indicated in the contract.
- Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it.
- Premium/Option Price: The price of the contract.

For more information, visit our Guide to Understanding Options Alerts or read more about unusual options activity.