Unusual Options Activity Summary for the week: SNAP, PTON, FB, DDOG, DISH, DD, SMAR

What a crazy week it was. From high volume bullish flow, to showing some hedges after the market tanked Wednesday through Friday, option flow was mixed this week. Let’s take a look at what we found.

SNAP – Snapchat

SNAP saw an uptick in volume last week. Big call blocks rolled through with an expiration of next week (September 11). This was before the two “crash” days, so it’s difficult to tell what may lay ahead for the stock.

PTON – Peloton Interactive

Peloton saw absolutely massive call buying last week. The stock has recently seen a couple upgrades that started the upward momentum before they report earnings on Thursday after the bell. Friday after market close, Barron’s released a bullish segment on why PTON might have ZM-like earnings. The bullish flow was a mix of earnings plays for next week as well as long-term expirations. Earnings this week will be highly anticipated by WallStreet.

FB – Facebook

FB saw a huge play rolled out to a further OTM position. My scanner picked up the the data as calls sold, but upon further investigation it seems to be a spread being rolled out.
Original Position: 35k BULL CALL spread at $250/275 strikes with November expiration. New Position: 35k BULL CALL spread at $295/340 strikes with November expiration. Essentially they are bullish for the stock to be closing above $300 by November.

DDOG – Datadog

DDOG was hot this week with big call volume rolling through the 85/90 strikes mainly with November expiration. One of the plays included an BULL CALL spread, 12.5k contracts each leg at strikes $80/85 with November expiration. You can see from the sentiment chart there has been a huge uptick in recent volume in this name.

DISH – Dish Network

Dish network saw an uptick in option flow. The flow at first appears to be pretty balanced on bull/bear side, but digging further it looks like mainly calls were bought with short calls being sold pretty far out the money. The calls sold are still a bullish play, though they are more on the premium collecting side rather than a directional bet.

DD – Dupont de Nemours

A ticker we don’t see often in unusual activity, DD. Looks recently a couple bullet BULL bets came rolling through. Over 25k contracts on the long calls and 5k contracts sold on the short side at 8% out the money. Feels like pretty bullish sentiment on this one.

SMAR – SmartSheet

Another ticker we don’t see very often with unusual flow was SMAR. A sweep of calls came through very far OTM. Expirations ranged from September to Feb/2021, so it seems its all across the board here. These plays are interesting due to how far out the money they are, I will be keeping my eye on this one.

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