Noteworthy Friday Option Activity: CORT, TEM, ROKU

Tempus AI Inc (TEM) and Roku Inc (ROKU) are exhibiting significant options trading activity today, with options volume representing 62% and 61% of their respective average daily stock trading volumes. Notably, the $110 strike call options for TEM (April 17, 2026 expiration) and ROKU (October 17, 2025 expiration) are experiencing particularly high interest, indicating heightened speculative or hedging activity in these names.

Analysis

Tempus AI Inc (TEM) and Roku Inc (ROKU) are exhibiting significantly elevated options trading volumes today, indicating heightened market interest and potential positioning. TEM's options volume of 53,761 contracts represents a substantial 62% of its average daily stock trading volume over the past month, while ROKU's 18,908 contracts account for 61% of its average daily volume. This concentrated activity suggests either speculative bullish bets or strategic hedging by market participants.

A notable observation is the specific interest in the $110 strike call options for both companies, albeit with different expirations. For TEM, 9,836 contracts of the April 17, 2026, $110 call have traded, representing approximately 983,600 underlying shares. ROKU similarly saw 3,174 contracts of the October 17, 2025, $110 call trade, covering about 317,400 shares.

This concentrated call option activity at a specific strike, particularly with longer-dated expirations, often implies expectations of the underlying stock reaching or surpassing that price point. The high proportion of options volume relative to average stock volume underscores the conviction or hedging demand around these potential price levels, despite the overall neutral sentiment score for both tickers. This technical signal warrants further investigation into potential catalysts.

Key Decisions for Investors

• Investors should monitor the price action of TEM and ROKU, particularly around the $110 level, as significant call option activity suggests potential price targets or resistance points.
• Evaluate the underlying fundamental catalysts for both companies that could be driving such bullish options positioning, considering the neutral overall sentiment and the long-dated nature of some of these options.
• Consider incorporating options strategies for TEM and ROKU to capitalize on potential volatility or directional moves, while carefully managing the inherent risks associated with derivatives trading.