This note highlights a select group of stocks showing the most unusual — and highly directional — options activity.
The goal is simple: follow the big money and trade in the direction of the underlying trend.
Here is the list of Unusual Options activity from January 15:
*Click to enlarge view
Corning Inc $GLW - The stock is building one of the largest bases in the market and is setting up for a potential move back toward its dot-com highs.
One option buyer appears to be positioning for that breakout to occur sooner rather than later.
Yesterday, they purchased 250 contracts of the 8/21 $130 calls. With the strike roughly 40% out-of-the-money and plenty of time until expiration, this is a notable longer-dated bullish bet worth keeping on the radar.
Lightpath Technologies Inc $LPTH - The stock has recently completed a bearish-to-bullish reversal, shifting the path of least resistance higher.
This bullish outlook is supported by today's significant options activity, with a buyer stepping in for 1,296 contracts of the 3/20 $20 calls.
IonQ Inc $IONQ - With price and volatility tightening you can expect a big move is coming around the corner. One buyer is betting on that move being to the downside.
They bought 19,998 contracts of the 1/23 $30 puts. With expiration next Friday and the strike far out-of-the-money, this is a highly aggressive, short-term bet that will need to play out quickly.
