Notable Friday Option Activity: HE, SMR, SON

Nuscale Power (SMR) and Sonoco Products (SON) are experiencing significantly elevated options trading volume today, with SMR's options volume representing 142.4% of its average daily share volume and SON's at 107%. Notably, SMR saw high volume in its September 2025 $36.50 strike call, while SON's September 2025 $40 strike call also traded actively. This heightened options activity indicates increased speculative interest or directional positioning in both equities.

Analysis

NuScale Power (SMR) and Sonoco Products (SON) are experiencing a significant deviation from normal trading patterns, characterized by exceptionally high options volume. For NuScale, today's options volume of 182,428 contracts represents 142.4% of its average daily underlying share volume, indicating a substantial influx of speculative interest. This activity is highly concentrated in a single instrument: the September 2025 $36.50 strike call option, which accounts for 37,598 contracts. This suggests a specific, long-dated bullish bet on significant price appreciation. Similarly, Sonoco Products' options volume is 107% of its average daily share volume, with nearly all activity—8,001 of 8,024 contracts—focused on the September 2025 $40 strike call. For both entities, this pronounced concentration in long-dated, out-of-the-money call options signals that market participants are positioning for substantial upward price movement over the next year, potentially anticipating future catalysts or a fundamental re-rating of the stocks.

Key Decisions for Investors

• Investors should note the elevated options volume in SMR and SON as a signal of heightened speculative interest, which could precede increased stock price volatility.
• The heavy concentration in long-dated SMR calls at the $36.50 strike warrants an investigation into potential fundamental catalysts or thematic tailwinds that could support a significant upward move by September 2025.