Noteworthy Wednesday Option Activity: SG, DVA, DOW

Today's trading shows notable options activity for DaVita Inc (DVA) and Dow Inc (DOW), with DVA's options volume reaching 55.6% of its average daily share volume and DOW's at 52.4%. Specifically, DVA is seeing high interest in its August 2025 $165 call options (2,518 contracts), while DOW is experiencing significant volume in its August 2025 $26 put options (11,475 contracts), indicating potential long-term directional bets or hedging strategies for these names.

Analysis

Today's trading data reveals significant and concentrated options activity in DaVita Inc. (DVA) and Dow Inc. (DOW). DVA's options volume has reached 4,329 contracts, translating to 55.6% of its average daily share volume. This activity is heavily concentrated in the August 15, 2025, $165 strike call options, which accounted for 2,518 contracts. Such a large, long-dated call volume suggests a potential bullish conviction on the part of traders, betting on a substantial appreciation in DVA's stock price over the next year. Conversely, Dow Inc. has experienced options volume of 67,083 contracts, or 52.4% of its average daily share turnover. The activity is notably focused on the August 15, 2025, $26 strike put options, with 11,475 contracts traded. This substantial, long-dated put volume indicates either a significant bearish directional bet against the stock or a large-scale hedging strategy implemented by an institutional holder to protect against a potential downside move toward the $26 level.

Key Decisions for Investors

• Investors should monitor the open interest and volume for the DVA August 2025 $165 calls and the DOW August 2025 $26 puts, as sustained activity could reinforce the respective bullish or bearish signals.
• For those with a bullish thesis on DaVita, the heavy call buying at a high strike provides a technical tailwind, suggesting it may be worthwhile to evaluate if company fundamentals support such a long-term optimistic outlook.