Noteworthy Tuesday Option Activity: UBER, AMR, NOW

Alpha Metallurgical Resources (AMR) and ServiceNow (NOW) are experiencing notably high options trading volumes today, representing 47.2% and 45% of their respective average daily share trading volumes. Specifically, AMR saw significant activity in its October 2025 $150 strike put options, with 1,004 contracts traded, while NOW's October 2025 $920 strike call options attracted 307 contracts, indicating heightened directional interest or hedging activity in these names.

Analysis

A significant surge in options trading volume has been observed for both Alpha Metallurgical Resources (AMR) and ServiceNow (NOW), representing 47.2% and 45% of their respective average daily share volumes. The activity is highly concentrated and directional, pointing to strategic positioning by investors. For AMR, a substantial volume of 1,004 contracts was traded for the October 2025 $150 strike put option, indicating a significant bearish bet or a large-scale hedging operation to protect against a price drop below the $150 level over the long term. Conversely, ServiceNow experienced notable volume in the October 2025 $920 strike call option, signaling strong bullish conviction and investor positioning for substantial price appreciation. This targeted, long-dated options activity suggests that sophisticated market participants are establishing positions based on expectations of significant, albeit opposing, future price movements in these two distinct stocks.

Key Decisions for Investors

• Investors with long positions in Alpha Metallurgical Resources should treat the heavy put buying at the $150 strike as a significant risk signal, prompting a review of downside protection and fundamental valuation.