Photonics in hyperdrive, security software starting to move
By Steve Strazza
May 8, 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 8:
*Click to enlarge view
Lightwave Logic $LWLG — Up nearly 96% in a month, and someone just made a massive long-dated commitment.
1,349 contracts of the 1/21/28 $22 calls hit for $1.1M in premium, a multi-year bet that the photonics story is nowhere close to finished.
Rubrik $RBRK — Cybersecurity software is building momentum, and RBRK is right in the middle of it.
500 contracts of the 9/18 $85 calls traded for $210K, a clean bullish print in a name that's already up over 20% in the past month.
Fortinet $FTNT — Fresh off a blowout earnings reaction, traders aren't waiting around to see if the move holds.
410 contracts of the 9/18 $135 calls changed hands, a signal that traders are pressing their bets on the security software leader while momentum is on their side.
