A $6M biotech bet, a chemicals breakout, and the software name nobody's talking about
By Steve Strazza
May 5, 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 May 5:
*Click to enlarge view
Cytokinetics $CYTK — Biotech is in the conversation, and someone just made sure you'd notice.
4,337 contracts of the 1/15/27 $90 calls traded for $6.1M — one of the largest single-name prints in today's flow.
Chemours Co $CC — Specialty chemicals aren't supposed to be exciting. This one is.
1,042 contracts of the 7/17 $35 calls traded for $141K, with the stock already up nearly 29% over the past month.
Rackspace Technology $RXT — Up 157% in a month, and the options market just doubled down.
1,860 contracts of the 11/20 $15 calls were traded — a long-dated, out-of-the-money bet that this infrastructure software name has a lot more runway ahead.
