Notable Friday Option Activity: AAOI, AS, OXY

Amer Sports (AS) and Occidental Petroleum (OXY) are exhibiting significant options trading volume today, with activity for each exceeding 40% of their average daily share trading volumes. Amer Sports saw particularly high interest in its September 2025 $45 strike call options, while Occidental Petroleum's August 2025 $48 strike calls also experienced elevated volume, indicating notable speculative or directional positioning in both equities.

Analysis

Amer Sports (AS) and Occidental Petroleum (OXY) are experiencing a significant deviation from normal trading patterns, characterized by unusually high options volume. For Amer Sports, options activity represents 41.7% of its average daily share volume, with a notable concentration in a single contract: the September 2025 $45 strike call, which alone accounts for 10,314 contracts, or approximately 1.0 million underlying shares. This single option's volume constitutes more than half of the total options volume observed. Similarly, Occidental Petroleum's options market saw activity equivalent to 41.5% of its average daily share volume. While more distributed than in AS, OXY saw a pronounced interest in the August 2025 $48 strike call. The long-dated nature of these highly active call options in both equities suggests that traders are taking specific, directional positions based on expectations of significant price appreciation over the next 14-15 months, rather than for short-term hedging or speculation.

Key Decisions for Investors

• Investors should investigate potential fundamental catalysts for both Amer Sports and Occidental Petroleum that could justify the significant, long-term bullish positioning indicated by the options market.