Noteworthy Thursday Option Activity: BILL, CMPR, NTCT

Cimpress PLC (CMPR) and NetScout Systems Inc (NTCT) both experienced unusually high options trading volume today, signaling notable investor activity. CMPR saw 1,026 contracts, representing 75.8% of its average daily share volume, with significant interest in December 2025 $60 strike put options. Concurrently, NTCT recorded 3,178 contracts, representing 71.4% of its average daily share volume, driven by high volume in December 2025 $30 strike call options.

Analysis

Cimpress PLC (CMPR) and NetScout Systems Inc (NTCT) both exhibited unusually high options trading volume today, signaling notable investor positioning. CMPR saw 1,026 contracts, representing 75.8% of its average daily share volume, while NTCT recorded 3,178 contracts, equivalent to 71.4% of its average daily share volume. This significant activity suggests focused interest in both equities.

For CMPR, the elevated volume was concentrated in the December 19, 2025, $60 strike put options, with 502 contracts trading. This substantial put activity, representing 50,200 underlying shares, indicates a notable bearish sentiment or hedging strategy targeting potential downside at the $60 level over a long-term horizon.

Conversely, NTCT experienced its highest options volume in the December 19, 2025, $30 strike call options, with 1,791 contracts traded. This call activity, covering 179,100 underlying shares, suggests a bullish conviction or hedging against upside for NTCT, targeting the $30 level in the long term.

Despite these distinct directional biases in options flow, the overall sentiment for both stocks remains neutral according to market signals. The high relative volume for both companies, exceeding 70% of their average daily share trading, underscores the technical significance of this options activity, warranting further investigation into underlying catalysts.

Key Decisions for Investors

• Monitor CMPR for potential downside catalysts given the significant long-dated put option volume at the $60 strike, which suggests bearish positioning or hedging.
• Investigate fundamental drivers for NTCT, as the substantial long-dated call option volume at the $30 strike indicates bullish conviction or hedging for future upside.