Noteworthy Monday Option Activity: LQDA, CENX, CRM

Options trading volume for Century Aluminum Co. (CENX) reached 63% of its average daily trading volume, with notable activity in the $22 strike call option expiring June 20, 2025. Similarly, Salesforce Inc (CRM) options volume hit 61.3% of its average daily trading volume, driven by activity in the $300 strike call option expiring July 18, 2025, suggesting increased investor interest in these specific strike prices and expiration dates.

Analysis

Century Aluminum Co. (CENX) and Salesforce Inc. (CRM) have both experienced significant options trading activity, representing substantial portions of their average daily stock trading volumes. For CENX, options volume reached 9,697 contracts, equivalent to approximately 969,700 underlying shares and constituting about 63% of its 1.5 million share average daily volume. Notably, the $22 strike call option expiring June 20, 2025, saw 2,320 contracts traded. Similarly, Salesforce (CRM) recorded options volume of 46,254 contracts, or about 4.6 million underlying shares, which is 61.3% of its 7.5 million share average daily volume. The $300 strike call option expiring July 18, 2025, was particularly active with 1,855 contracts changing hands. This concentrated activity in specific, longer-dated call options suggests heightened investor interest and potential speculative positioning on the upward price movement of both CENX and CRM towards these strike prices by mid-2025.

Key Decisions for Investors

• Monitor the $22 strike for CENX (expiring June 20, 2025) and the $300 strike for CRM (expiring July 18, 2025), as the significant volume could indicate market expectations or influence future price discovery around these levels.
• Investors should assess whether this options activity, potentially indicative of bullish sentiment for these specific strike prices out to mid-2025, aligns with their own investment thesis and risk appetite for CENX and CRM.
• Given the elevated options volume in these specific contracts, consider the possibility of increased volatility in the underlying shares of CENX and CRM, particularly as the market digests this activity and as the expiration dates approach.