Notable Friday Option Activity: IONQ, TWLO, UUUU

Twilio (TWLO) and Energy Fuels (UUUU) are exhibiting significant options trading volume, with each representing approximately 44% of their average daily share trading. Notably, long-dated put options, specifically the $94 strike for TWLO (Oct 2025) and the $12.50 strike for UUUU (Nov 2025), are seeing particularly high activity, indicating potentially substantial hedging or bearish positioning by market participants in these specific contracts.

Analysis

Twilio Inc (Symbol: TWLO) saw options trading volume of 12,383 contracts, representing approximately 1.2 million underlying shares or approximately 44.4% of TWLO's average daily trading volume over the past month, of 2.8 million shares. Particularly high volume was seen for the $94 strike put option expiring October 10, 2025, with 698 contracts trading so far today, representing approximately 69,800 underlying shares of TWLO. Below is a chart showing TWLO's trailing twelve month trading history, with the $94 strike highlighted in orange: And Energy Fuels Inc (Symbol: UUUU) options are showing a volume of 81,527 contracts thus far today. That number of contracts represents approximately 8.2 million underlying shares, working out to a sizeable 44% of UUUU's average daily trading volume over the past month, of 18.5 million shares. Particularly high volume was seen for the $12.50 strike put option expiring November 07, 2025, with 5,263 contracts trading so far today, representing approximately 526,300 underlying shares of UUUU. Below is a chart showing UUUU's trailing twelve month trading history, with the $12.50 strike highlighted in orange: For the various different available expirations for IONQ options, TWLO options, or UUUU options, visit StockOptionsChannel.com. Today's Most Active Call & Put Options of the S&P 500 » Also see: Socially Responsible Preferreds Top Ten Hedge Funds Holding FXED HG Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Twilio (TWLO) and Energy Fuels (UUUU) are both exhibiting significant options market activity, with total options volume representing approximately 44.4% and 44% of their respective average daily share trading volumes. This elevated activity is notably concentrated in specific long-dated put options, indicating a strategic, rather than broad-based, market focus. For Twilio, a high volume of 698 contracts traded for the $94 strike put expiring in October 2025. Similarly, Energy Fuels saw 5,263 contracts trade for its $12.50 strike put expiring in November 2025. Such concentrated volume in far-dated puts suggests that market participants are either establishing substantial long-term hedges against potential price declines below these specific strike prices or are making outright speculative bearish wagers on the stocks' performance over the next 18-24 months. The focus on these particular strikes indicates they are viewed as significant technical or valuation levels by a segment of the market.

Key Decisions for Investors

• Investors should investigate the open interest for the highlighted long-dated puts on TWLO and UUUU to confirm if this high volume represents new bearish positions being opened, which would strengthen the signal.
• Current holders of TWLO or UUUU should consider this activity a prompt to review their own risk management, as the market is actively pricing in or hedging against potential downside to the $94 and $12.50 levels, respectively.