Noteworthy Tuesday Option Activity: ADI, CRDO, MPC

Credo Technology Group (CRDO) and Marathon Petroleum Corp. (MPC) are experiencing notable options trading activity, with volumes representing 42.9% and 42.2% respectively of their average daily stock trading volumes. This includes significant interest in long-dated call options expiring September 2025, specifically the $140 strike for CRDO and the $130 strike for MPC, suggesting a potential bullish outlook or hedging activity anticipating substantial price movements for these equities.

Analysis

Credo Technology Group (CRDO) and Marathon Petroleum Corp. (MPC) are experiencing significant and concentrated options market activity. Specifically, options volume for CRDO accounted for 42.9% of its average daily share volume, while MPC's options volume was 42.2% of its daily average, indicating a substantial level of derivative-based interest relative to equity trading. This activity is heavily skewed towards long-dated call options, with notable volume in CRDO's September 2025 $140 strike calls (4,780 contracts) and MPC's September 2025 $130 strike calls (2,400 contracts). Such targeted buying in long-term call options suggests that some market participants are positioning for significant price appreciation in both companies over the next year, potentially anticipating favorable long-term catalysts or utilizing these instruments to express a strong bullish conviction.

Key Decisions for Investors

• Investors should monitor for any forthcoming fundamental news or catalysts for both CRDO and MPC, as the large, specific call option purchases may be leading indicators of positive developments.
• Given the high volume of options activity, holders of these stocks should be prepared for potentially heightened volatility and consider using the identified strike prices as reference points for market sentiment.
• For those with a bullish outlook, this options flow could serve as a data point confirming long-term upside potential, and the specific strikes and expirations could inform the structuring of new or existing positions.