Notable Thursday Option Activity: AFRM, EVR, RGTI

Evercore Inc (EVR) and Rigetti Computing Inc (RGTI) are experiencing significantly elevated options trading volume today, notably exceeding their respective average daily share trading volumes. EVR's options volume reached 114.6% of its average daily share volume, with particular interest in the September 2025 $200 call option. Similarly, RGTI saw its options volume at 113.7% of its average daily share volume, driven by high activity in the August 2025 $15.50 call option, signaling increased speculative interest or directional positioning in both equities.

Analysis

Both Evercore Inc. (EVR) and Rigetti Computing Inc. (RGTI) are experiencing a material surge in options market activity, with today's options volume representing 114.6% and 113.7% of their respective average daily share volumes. This heightened interest is concentrated in specific long-dated, out-of-the-money call options, indicating significant speculative positioning for future upside. For Evercore, nearly half of the day's 4,990 options contracts are in the September 2025 $200 strike call. Similarly, Rigetti's activity is heavily skewed towards the August 2025 $15.50 strike call, which has seen 72,244 contracts traded. The focus on these specific contracts, which represent approximately 246,000 EVR shares and 7.2 million RGTI shares respectively, suggests that market participants are placing substantial leveraged bets on significant share price appreciation over the next 14 to 15 months.

Key Decisions for Investors

• Investors should investigate potential undisclosed catalysts or fundamental shifts for Evercore and Rigetti that could be driving this significant, long-dated bullish options activity.
• Consider the impact of this options activity on implied volatility and the potential for increased share price fluctuations in both stocks.