Chips, Critical Minerals, and American Steel Are All Getting the Big Money Treatment
By Steve Strazza
April 16, 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 16:
*Click to enlarge view
Aehr Test Systems $AEHR — Semiconductor testing is having a moment. Aehr just landed a record $41 million production order from an AI hyperscale customer today, and the stock is up over 300% year to date as demand for burn-in systems tied to AI chips keeps accelerating.
Traders piled in with 158 contracts of the 9/18 $110 calls.
Sigma Lithium Corp $SGML — Lithium is showing signs of life after a corrective wave, and SGML is one of the leaders in the space.
With the stock up more than 10% today, bullish flow hit with 30 contracts of the 7/17 $30 calls — a directional bet that this Brazilian lithium producer is just getting started on its next leg higher.
Nucor Corp $NUE — Steel is back in focus and Nucor is the name everyone's watching.
Bullish action showed up with 260 contracts of the 3/19/27 $260 calls — a long-dated, patient bet on Nucor as it approaches a major base breakout level.
