Notable Monday Option Activity: RIOT, BIIB, VKTX

Biogen (BIIB) and Viking Therapeutics (VKTX) are experiencing unusually high options trading volume today, with activity for both representing over 63% of their respective average daily stock trading volumes. Notably, BIIB saw significant volume in its August 15, 2025, $125 strike call option (5,214 contracts), while VKTX observed substantial interest in its July 25, 2025, $38 strike call option (5,188 contracts). This concentrated options activity suggests notable speculative or directional positioning in these names, warranting investor attention.

Analysis

Biogen (BIIB) and Viking Therapeutics (VKTX) are both exhibiting significant and unusual options market activity, indicating heightened speculative interest. For Biogen, today's options volume of 7,835 contracts equates to 63.7% of its average daily stock volume, with a notable concentration of 5,214 contracts in the August 15, 2025, $125 strike call option. Similarly, Viking Therapeutics saw options volume reach 63.5% of its average daily share volume, driven by substantial activity in the July 25, 2025, $38 strike call, which traded 5,188 contracts. The concentration in these specific long-dated call options suggests that a significant portion of the market is positioning for substantial upside in both stocks over the next year. While the article does not provide a fundamental catalyst for this activity, the sheer volume relative to normal stock trading implies that these are not minor trades but represent a considerable directional bet or a large-scale hedging operation by institutional players.

Key Decisions for Investors

• The high volume in long-dated call options for BIIB and VKTX is a strong signal of bullish sentiment from a segment of the market and could precede increased stock price volatility, warranting close monitoring.