Notable Thursday Option Activity: GOOGL, HIMS, SON

Hims & Hers Health Inc (HIMS) and Sonoco Products Co. (SON) are exhibiting unusually high options trading volume today, with HIMS volume representing 90.1% and SON 87% of their respective average daily share trading volumes. Significant interest is concentrated in long-dated call options, particularly the HIMS August 2025 $70 strike and the SON August 2025 $35 strike, indicating substantial speculative activity or bullish positioning in these names.

Analysis

Hims & Hers Health Inc. (HIMS) and Sonoco Products Co. (SON) are experiencing exceptionally high options trading activity, indicating significant speculative interest. For HIMS, the options volume of 279,645 contracts translates to approximately 28.0 million underlying shares, which constitutes a substantial 90.1% of its average daily share volume of 31.0 million. The activity is heavily concentrated in a single long-dated contract: the August 1, 2025, $70 strike call, which alone accounts for 28,484 contracts. Similarly, Sonoco's options volume of 8,576 contracts represents 87% of its average daily share turnover. The vast majority of this volume, 8,500 contracts, is focused on the August 15, 2025, $35 strike call. In both cases, the concentration in far-dated, specific call strikes suggests market participants are placing significant, leveraged bets on substantial long-term price appreciation rather than hedging near-term events. This level of options volume relative to the underlying stock's liquidity could also lead to increased volatility due to delta-hedging activities by market makers.

Key Decisions for Investors

• Investors should investigate potential long-term catalysts for HIMS and SON, as the highly concentrated buying of long-dated call options signals a strong bullish conviction from a segment of the market.
• Monitor the implied volatility of both stocks, as the large options positions may lead to amplified price swings in the underlying shares, particularly as market makers hedge their exposure.
• While this options activity is a notable bullish technical signal, it must be validated with fundamental analysis of each company's financial health and growth prospects before making an investment decision.