Calls Flying, Fiber Surging, Grid Getting an Upgrade
By Steve Strazza
April 1, 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 April 1:
*Click to enlarge view
Uniti Group $UNIT — Fiber infrastructure is back in focus. After completing a merger with Windstream and expanding its network, Uniti is quietly positioned as one of the more compelling connectivity plays in the market.
Someone put on a patient trade here — 2,500 contracts of the 12/17/27 $12 calls, a long-dated bet that there's a lot more upside ahead.
Firefly Aerospace $FLY — Space and defense is having a moment, and Firefly is one of the names catching serious attention, from defense contracts, lunar missions, and a successful rocket return-to-flight all building at the same time.
The flow backed that up in a hurry — 2,498 contracts of the 4/17 $40 calls hit the tape.
TeraWulf $WULF — TeraWulf isn't really a bitcoin miner anymore — it's an AI power play. With a Google-backed joint venture and 2.8 gigawatts of infrastructure capacity, the market is starting to treat WULF like a data center infrastructure stock.
Traders are leaning in — 1,500 contracts of the 8/21 $28 calls with a mid-summer expiry, giving this one time to work as the AI buildout story continues.
