Noteworthy Tuesday Option Activity: TXN, SMCI, USPH

Super Micro Computer (SMCI) and U.S. Physical Therapy (USPH) are exhibiting significant options trading activity, with SMCI's volume of 302,686 contracts representing 71% of its average daily share volume and USPH's 1,504 contracts equating to 65.4% of its average. Notably, the August 2025 $95 call for SMCI and the March 2026 $65 call for USPH are seeing particularly high trading volume, suggesting increased investor interest and potential bullish sentiment at these strike prices.

Analysis

Super Micro Computer (SMCI) and U.S. Physical Therapy (USPH) are exhibiting significant and concentrated derivatives activity, signaling heightened investor focus. For SMCI, options volume reached 302,686 contracts, equivalent to a substantial 71% of its average daily share volume. This activity was heavily skewed towards a single contract: the August 15, 2025, $95 strike call, which alone accounted for 30,351 contracts. Similarly, USPH saw options volume representing 65.4% of its average daily share turnover, with a notable concentration of 1,249 contracts traded for the March 20, 2026, $65 strike call. While the article's tone is neutral, the data points to a distinct pattern of long-term bullish positioning or significant hedging activity in both names. The focus on long-dated call options suggests that certain market participants are making leveraged wagers on substantial upside potential over a one-to-two-year horizon.

Key Decisions for Investors

• Investors should monitor the open interest and trading volume in the specified long-dated call options for SMCI (August 2025 $95 strike) and USPH (March 2026 $65 strike) as a key indicator of sustained speculative interest.
• The heightened options activity may increase implied volatility, presenting potential opportunities for premium-selling strategies but also signaling a need to assess the underlying stock's potential for significant price swings.