Notable Tuesday Option Activity: DGX, AMD, CRWD

Advanced Micro Devices (AMD) recorded substantial options trading volume of 413,992 contracts, representing 54.6% of its average daily share volume, with particular activity in the $225 strike put expiring October 24, 2025, which saw 43,149 contracts traded. Concurrently, CrowdStrike Holdings (CRWD) also experienced elevated options volume, totaling 12,770 contracts or 52% of its average daily share volume, highlighted by 613 contracts for the $540 strike call expiring December 19, 2025. This data reflects significant options market engagement for both technology firms.

Analysis

Advanced Micro Devices (AMD) and CrowdStrike Holdings (CRWD) both exhibited significant options trading activity, indicating heightened investor interest in derivatives for these technology firms. AMD recorded 413,992 options contracts traded, representing 54.6% of its average daily share volume of 75.8 million shares. Concurrently, CRWD saw 12,770 contracts, equating to 52% of its 2.5 million average daily share volume.

A notable concentration of activity was observed in specific long-dated options. For AMD, 43,149 contracts of the $225 strike put option expiring October 24, 2025, traded, suggesting substantial downside protection or bearish speculation. CRWD experienced high volume in its $540 strike call option expiring December 19, 2025, with 613 contracts, pointing to bullish expectations or upside exposure.

This elevated options volume, particularly in specific strikes and longer expirations, signals strategic positioning by institutional players or sophisticated investors. The activity falls under themes of 'Derivatives & Volatility' and 'Market Technicals & Flows,' reflecting either hedging strategies or directional bets on future price movements for these companies, despite the article itself maintaining a neutral sentiment.

Key Decisions for Investors

• Investors should closely monitor the open interest and subsequent price action around AMD's $225 put and CRWD's $540 call strikes, as significant options activity can often precede or amplify underlying stock movements.
• Consider the implications of the long-dated options positioning: the substantial volume in AMD's October 2025 $225 put suggests some market participants are hedging against or speculating on a significant downside, while CRWD's December 2025 $540 call activity indicates expectations for considerable upside.