Noteworthy Monday Option Activity: INTC, APP, VKTX

Applovin (APP) and Viking Therapeutics (VKTX) are experiencing significant options trading activity today, with APP's options volume representing 62.9% of its average daily share volume and VKTX's at 62.6%. Notably, APP saw high volume in the $620 strike put option expiring September 2025, while VKTX recorded substantial interest in the $27.50 strike call option expiring October 2025, indicating focused directional or hedging strategies around these specific price points and maturities.

Analysis

Applovin Corp (APP) and Viking Therapeutics Inc (VKTX) are both exhibiting unusually high options market activity. For Applovin, the options volume of 64,567 contracts represents approximately 6.5 million underlying shares, equating to a significant 62.9% of its 10.3 million share average daily volume. The activity is notably concentrated in the September 26, 2025 expiration, specifically the $620 strike put option, which saw 4,461 contracts traded. This targeted, long-dated put buying could indicate a large-scale hedging strategy against a long stock position or a significant bearish directional bet on the company's long-term valuation. Similarly, Viking Therapeutics' options volume of 37,245 contracts represents 62.6% of its 5.9 million share average daily volume. In this case, the activity is focused on a bullish instrument: the $27.50 strike call option expiring October 17, 2025, which traded 3,355 contracts. This concentrated call buying suggests strong speculative interest in the company's upside potential over the next year. In both cases, the high volume in specific long-dated contracts, relative to typical stock trading volume, signals that some market participants are establishing substantial, targeted positions based on a long-term catalyst or thesis.

Key Decisions for Investors

• Investors should recognize the elevated options volume in APP and VKTX as a potential precursor to increased stock volatility and a signal of institutional positioning.
• The concentrated activity in long-dated Applovin puts warrants a cautious review of downside risks, as it may represent a significant hedge or a directional bearish bet by informed investors.
• For Viking Therapeutics, the high volume in long-dated call options suggests bullish speculation on its long-term prospects, a factor for current and potential shareholders to consider in their own thesis.