Noteworthy Tuesday Option Activity: RGTI, UNH, CVNA

UnitedHealth Group (UNH) and Carvana (CVNA) are experiencing unusually high options trading volume today, with UNH's options activity equating to 129.9% and CVNA's to 124.1% of their average daily underlying share trading volumes. This surge is particularly concentrated in long-dated call options, including the August 2025 $310 strike for UNH and the August 2025 $390 strike for CVNA, indicating significant directional interest or positioning in these equities.

Analysis

UnitedHealth Group (UNH) and Carvana (CVNA) are exhibiting significant and unusual activity in their options markets. Today's options volume in UNH represents 129.9% of its average daily share trading volume over the past month, while CVNA's options volume equates to 124.1% of its respective average. This elevated activity is not diffuse; it is notably concentrated in specific long-dated call options. For UNH, a significant volume of 20,154 contracts has traded on the $310 strike call expiring in August 2025. Similarly, CVNA has seen heightened interest in its August 2025 $390 strike call. The focus on long-dated call options, rather than short-term expirations, suggests that market participants are establishing positions based on a longer-term directional view, potentially anticipating substantial price appreciation in both equities over the next year.

Key Decisions for Investors

• Investors should recognize the highly elevated options volume in UNH and CVNA as a signal of significant institutional or speculative interest that deviates sharply from recent trading norms.