Notable Tuesday Option Activity: TDOC, BSX, TRIP

Boston Scientific (BSX) and Tripadvisor (TRIP) experienced notable options trading volume, with BSX seeing 28,191 contracts traded, particularly for the $90 strike put option expiring June 2025, and TRIP seeing 11,536 contracts traded, especially for the $13 strike put option expiring January 2026; these volumes represent approximately 41% and 40.4% of their respective average daily trading volumes over the past month, suggesting increased investor activity in these specific options.

Analysis

Boston Scientific (BSX) and Tripadvisor (TRIP) both experienced significant options trading activity on the reporting day. BSX recorded a total options volume of 28,191 contracts, equivalent to approximately 2.8 million underlying shares, which constitutes about 41% of its average daily trading volume of 6.9 million shares over the past month. Notably, 19,631 of these contracts were for the $90 strike put option expiring June 20, 2025, representing nearly 2.0 million underlying BSX shares. Concurrently, Tripadvisor (TRIP) saw 11,536 options contracts traded, translating to roughly 1.2 million underlying shares, or 40.4% of its month-long average daily volume of 2.9 million shares. Within TRIP's options, 5,042 contracts were traded for the $13 strike put option expiring January 16, 2026. This concentrated daily trading volume in specific put options for both companies suggests heightened investor focus, potentially indicating expectations of price declines below these strike levels, strategic hedging against existing long positions, or significant speculative bets. The neutral sentiment score (0.0) of the report underscores that this is a factual observation of market activity.

Key Decisions for Investors

• Investors should monitor BSX's price action closely around the $90 level, as the high daily trading volume in June 2025 puts indicates significant market focus and potential for increased volatility or price discovery near this strike.
• Evaluate TRIP's outlook concerning the $13 strike, considering the substantial daily put volume for January 2026 expirations might signal perceived downside risk or a notable hedging level being established.
• Investigate whether this spike in put option volume in BSX and TRIP represents a new trend or a one-off positioning event by further monitoring subsequent trading days and changes in open interest.
• Consider the implications of this heightened put activity on risk profiles for existing or potential positions in BSX and TRIP, and assess whether this warrants adjustments to investment theses or hedging strategies if the observed activity persists or escalates.