Noteworthy Wednesday Option Activity: BIIB, OXY, BSX

Occidental Petroleum (OXY) and Boston Scientific (BSX) are experiencing unusually high options trading volume today, representing 45.8% and 45.4% of their respective average daily share volumes. Notably, OXY saw significant activity in its October 2025 $43.50 put options, while BSX had substantial volume in its October 2025 $98 call options, indicating notable directional interest or hedging strategies for both equities.

Analysis

Occidental Petroleum (OXY) and Boston Scientific (BSX) are both exhibiting unusually high options trading activity, indicating significant institutional positioning. For OXY, today's options volume of 43,204 contracts represents 45.8% of its average daily share volume. This activity is notably concentrated in the October 10, 2025, $43.50 strike put option, which saw 4,008 contracts traded. Such a large, long-dated put position suggests a substantial bearish bet or a significant hedging strategy against a potential price decline below $43.50 over the next year. Conversely, Boston Scientific's options volume of 49,800 contracts equates to 45.4% of its average daily share volume. The activity is heavily skewed towards the bullish side, with 20,686 contracts traded for the October 10, 2025, $98 strike call option. This represents a strong conviction that BSX's share price will appreciate significantly above $98. The long-term expiration for both of these standout trades implies that these are not short-term speculative plays but rather strategic positions based on a longer-term thesis for each company.

Key Decisions for Investors

• Investors in Occidental Petroleum should scrutinize the potential catalysts for a price decline below the $43.50 strike, as the concentrated put buying signals a significant hedge or bearish anticipation.