Noteworthy Friday Option Activity: QBTS, CHTR, WMT

Charter Communications (CHTR) and Walmart (WMT) are experiencing significant options trading activity today, with volumes representing 49.1% and 47.8% of their respective average daily stock trading. Notably, CHTR saw concentrated interest in its September 2025 $330 strike put options, while WMT's September 2025 $104 strike call options were particularly active, suggesting increased directional positioning or hedging strategies in both equities.

Analysis

Significant options market activity has been observed in both Charter Communications (CHTR) and Walmart (WMT), indicating heightened investor positioning. For CHTR, options volume reached 49.1% of its average daily stock trading volume, with a notable concentration of 1,700 contracts in the September 19, 2025, $330 strike put options. This specific activity points towards a bearish outlook or a significant hedging strategy, as these positions would become profitable if CHTR's share price falls below $330 by expiration. Similarly, WMT experienced options volume equivalent to 47.8% of its average daily share volume. In contrast to Charter, the activity was skewed bullish, with 8,303 contracts traded for the September 12, 2025, $104 strike call option. This suggests strong conviction from traders betting on a share price appreciation above $104 over the long term. The substantial volume in these specific long-dated contracts for both companies implies that market participants are making considerable directional bets on their future performance.

Key Decisions for Investors

• For Charter Communications (CHTR), the concentrated volume in long-dated $330 strike puts should be viewed as a cautionary signal, reflecting either a large bearish bet or a substantial hedging strategy against a potential price decline.