Noteworthy Thursday Option Activity: ETSY, AMGN, CAPR

Amgen (AMGN) and Capricor Therapeutics (CAPR) both saw notably high options trading volumes today, each representing approximately 50% of their average daily share trading volume. Specifically, AMGN experienced significant activity in its September 2025 $305 call options, while CAPR recorded substantial volume in its September 2025 $7.50 put options, indicating heightened investor interest or directional positioning in these long-dated strikes.

Analysis

A significant divergence in options market sentiment is evident between Amgen Inc. (AMGN) and Capricor Therapeutics Inc. (CAPR), despite both experiencing unusually high options volume, each representing approximately 50% of their average daily share volume. For Amgen, the activity was concentrated in long-dated bullish bets, with notable volume in the September 2025 $305 strike call options. This specific flow, representing 126,600 underlying shares, points to a subset of traders positioning for substantial upside in AMGN over the coming year. In stark contrast, Capricor Therapeutics saw a concentration of bearish or hedging activity, highlighted by heavy trading in the September 2025 $7.50 strike put options. The volume in this specific put contract alone accounted for approximately 246,100 underlying shares, indicating a significant positioning for a potential price decline or a desire to protect existing holdings against downside risk. The long-term expiration of these contracts suggests these are not short-term speculative plays but rather reflect longer-term strategic views on the respective companies.

Key Decisions for Investors

• The substantial buying of long-dated, out-of-the-money call options in Amgen (AMGN) suggests bullish conviction from some market participants, warranting a review of the company's long-term growth pipeline and catalysts that could support a move above the $305 strike.
• For Capricor Therapeutics (CAPR), the concentrated volume in long-dated put options is a bearish signal that should prompt investors to assess potential downside risks and re-evaluate the bull case for the stock.