Noteworthy Tuesday Option Activity: NEM, DELL, NTRS

Dell Technologies (DELL) and Northern Trust (NTRS) are experiencing notably high options trading volumes, representing 60.8% and 56.3% of their respective average daily stock trading volumes. Specifically, there is significant activity in long-dated call options for DELL at the $134 strike (July 2025 expiration) and for NTRS at the $130 strike (July 2025 expiration), indicating strong bullish sentiment and potential price targets for both equities among options market participants.

Analysis

Dell Technologies (DELL) and Northern Trust Corp (NTRS) are both experiencing unusually high options market activity, indicating significant investor interest and positioning. For Dell, the options volume of 31,476 contracts accounts for a substantial 60.8% of its average daily share volume, signaling that derivatives trading is a major focus. The activity is heavily concentrated in the July 2025 $134 strike call options, which alone saw 15,176 contracts traded. Similarly, Northern Trust's options volume reached 56.3% of its average daily share volume, with a notable concentration of 7,881 contracts on the July 2025 $130 strike calls. This specific focus on long-dated, out-of-the-money call options for both companies suggests a strong, directional bullish sentiment among a segment of traders, who are positioning for significant share price appreciation over the next year.

Key Decisions for Investors

• Investors should view the concentrated buying of long-dated call options in both DELL and NTRS as a strong bullish signal from the derivatives market, potentially preceding upward price movement.