Notable Thursday Option Activity: CRWD, GS, UNH

Goldman Sachs (GS) and UnitedHealth Group (UNH) both observed unusually high options trading volume, with GS's volume at 150.1% and UNH's at 108.4% of their average daily share volumes. This surge was particularly pronounced in specific mid-2025 call options—the $800 strike for GS and the $315 strike for UNH—indicating significant directional interest or strategic positioning in these equities over the medium term.

Analysis

Goldman Sachs (GS) and UnitedHealth Group (UNH) have experienced significant and concentrated options market activity. GS options volume reached 150.1% of its average daily share volume, while UNH saw 108.4%, indicating a substantial increase in derivatives trading relative to underlying stock turnover. The activity is not diffuse; rather, it is notably concentrated in specific long-dated call options. For Goldman Sachs, significant volume was recorded in the $800 strike call options expiring in July 2025, and for UnitedHealth, the focus was on the $315 strike calls with a similar July 2025 expiration. This targeted buying of call options with more than a year until expiration suggests that market participants are taking positions based on a medium-term outlook, anticipating or hedging against a significant upward price movement in both equities by mid-2025. The high volume in these particular strikes points towards a strategic, conviction-based play rather than broad market speculation.

Key Decisions for Investors

• Investors should monitor the open interest and trading volumes in the specified July 2025 call series for GS ($800 strike) and UNH ($315 strike) as a key indicator of institutional sentiment and positioning.
• The unusual activity warrants an investigation into potential long-term fundamental catalysts for both companies that could justify such a directional, medium-term outlook.
• While this activity is directionally bullish, investors should consider that these trades could be part of a complex hedging strategy, and should therefore analyze shifts in implied volatility before making portfolio adjustments based solely on these flows.