Software stocks are waking up, driving today's unusual options flow
By Steve Strazza
May 22, 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 22:
*Click to enlarge view
Novanta $NOVT — Novanta makes the precision motion and sensing components that go inside surgical robots, medical devices, and advanced manufacturing systems.
Bullish flow showed up with 800 contracts of the 11/20 $220 calls, a longer-dated bet that the robotics and medical automation buildout still has much more in the tank.
Voyager Technologies $VOYG — The stock has been a momentum IPO since going public at $31, climbing roughly 45% in under a month as defense spending and commercial space tailwinds draw fresh institutional interest.
Traders bought 895 contracts of the 6/18 $50 calls, positioning for the next leg higher as this story continues to attract attention.
indie Semiconductor $INDI — indie makes automotive chips for ADAS and connected vehicles and is acquiring an image sensor line from ams OSRAM to push deeper into physical AI.
A trader bought 8,052 contracts of the 11/20 $7.5 calls, the biggest contract count on today's sheet.
