The Daily Flow

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 July 21:

*Click to enlarge view

Flex Ltd $FLEX — Electronic components have been under pressure, but buyers stepped into one of the sector's biggest laggards.

1,933 contracts of the 10/16 $200 calls traded for $850K in premium, a sizable bet that the recent washout is over.

Cullen/Frost Bankers Inc $CFR — Regional banks continue to hold up well, and this Texas-based lender is attracting longer-dated bullish positioning.

330 contracts of the 1/15/27 $185 calls hit the tape for $116K in premium.

TE Connectivity PLC $TEL — Another electronic components name drawing buyers as traders position for a recovery in the group.

279 contracts of the 9/18 $240 calls traded for $223K in premium, signaling expectations for further upside.