Noteworthy Friday Option Activity: AR, SGRY, PATH

Surgery Partners Inc (SGRY) experienced notable options activity, with total volume reaching 64.1% of its average daily trading volume, driven by high interest in the $20 strike put option expiring June 20, 2025. Similarly, UiPath Inc (PATH) saw options volume at 59.8% of its average daily trading volume, with the $13 strike call option expiring May 30, 2025, showing particularly high activity.

Analysis

Surgery Partners Inc (SGRY) experienced a notable surge in options trading activity, with 6,409 contracts exchanged, equivalent to approximately 640,900 underlying shares. This volume represents a significant 64.1% of SGRY's average daily trading volume of 1.0 million shares over the past month. The activity was particularly concentrated in the $20 strike put option expiring June 20, 2025, which saw 5,166 contracts traded, accounting for roughly 516,600 underlying shares. Similarly, UiPath Inc (PATH) also exhibited heightened options trading, with 57,387 contracts traded, corresponding to about 5.7 million underlying shares. This level of activity constitutes 59.8% of PATH's average daily trading volume of 9.6 million shares. For UiPath, the $13 strike call option expiring May 30, 2025, was especially active, with 4,631 contracts changing hands, representing approximately 463,100 underlying shares. Such concentrated options volume on specific strike prices and expiration dates often signals heightened investor interest or strategic positioning around these levels.

Key Decisions for Investors

• Investors should monitor Surgery Partners (SGRY) for potential price movements around the $20 level, as the high volume in June 2025 put options suggests significant hedging or bearish speculation extending to that date.
• For UiPath (PATH), the considerable activity in $13 strike call options expiring May 2025 indicates potential bullish sentiment or speculative interest in the stock surpassing this price by the expiration date, warranting close observation.