Follow the Flow By Steve Strazza February 2, 2026 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 February 2: *Click to enlarge viewAtlassian $TEAM – Sitting at a key level, one trader is positioning for a complete breakdown and the completion of a topping pattern.They bought 203 contracts of the 9/18 $105 puts, a bearish bet with multi-bagger potential if the pattern resolves quickly.Boeing $BA – After years of underperformance, BA is shaping up in a multi-year base.A trader picked up 1,552 contracts of the 2/20 $242.5 calls, anticipating a potential breakout.Coinbase $COIN – With crypto selling off, a bearish trade targets a critical support level at the anchored VWAP from its all-time lows.One buyer purchased 945 contracts of the 5/21/27 $125 puts, betting on a long-term breakdown if this key level fails.
