Noteworthy Wednesday Option Activity: HIMS, UNH, SMMT

UnitedHealth Group (UNH) and Summit Therapeutics (SMMT) both experienced notably elevated options trading volume today, with activity for each exceeding 60% of their respective average daily share volumes. Specifically, UNH saw significant interest in its September 2025 $320 call options, while SMMT's volume was concentrated in its October 2025 $31 call options, indicating potential bullish positioning or strategic hedging at these long-dated strike prices.

Analysis

UnitedHealth Group (UNH) and Summit Therapeutics (SMMT) have both registered significant and unusual options market activity, indicating a potential shift in investor positioning. For UNH, the options volume of 118,179 contracts equated to a substantial 63.7% of its average daily share volume, with a notable concentration in the long-dated September 2025 $320 strike call options. This specific, targeted activity suggests a leveraged, bullish bet on the stock surpassing the $320 mark over the next year. Similarly, SMMT saw options volume amounting to 61.1% of its average daily share turnover, with a large portion of this activity—9,297 contracts—focused on the October 2025 $31 strike call. Such concentrated buying in long-term call options for both companies, rather than being spread across various strikes and expirations, often signals informed or institutional capital making a strategic play on future upside potential or establishing a significant hedge against a corresponding position.

Key Decisions for Investors

• Investors should view the high-volume, long-dated call option activity in both UNH and SMMT as a significant technical signal that could foreshadow increased stock price volatility or a directional move.