Noteworthy Friday Option Activity: PWR, QCOM, LW

Qualcomm (QCOM) and Lamb Weston (LW) experienced elevated options trading volume today, with activity for both stocks representing approximately 41% of their average daily share trading volumes. Notably, significant interest concentrated in long-dated put options: the QCOM July 2025 $165 strike saw 5,511 contracts trade, while the LW September 2025 $40 strike recorded 5,302 contracts, indicating potential bearish positioning or hedging activity in these names.

Analysis

Qualcomm (QCOM) and Lamb Weston (LW) both experienced unusually high options trading activity, with total contract volumes representing approximately 41% and 40.9% of their respective average daily share volumes. The activity was not broadly distributed but was highly concentrated in specific long-dated put options, signaling a targeted and potentially institutional view. For Qualcomm, 5,511 contracts were traded on the $165 strike put option expiring in July 2025, accounting for a significant portion of its total options volume of 32,494 contracts. Similarly, Lamb Weston saw 5,302 contracts trade on the $40 strike put option expiring in September 2025. This concentration in puts with expirations over a year away suggests that market participants are either establishing substantial hedges against long-term downside risk or making outright speculative bearish bets on the future performance of these specific companies, rather than reacting to near-term news or volatility.

Key Decisions for Investors

• Investors should monitor the $165 level for QCOM and the $40 level for LW, as this significant put buying activity may establish these strike prices as key psychological or technical resistance points.
• The substantial, long-dated bearish positioning warrants a review of fundamental catalysts for both companies, as this activity could signal informed concern about future earnings, competition, or valuation.