Noteworthy Friday Option Activity: QUBT, SRRK, TRIP

Scholar Rock Holding Corp (SRRK) and Tripadvisor Inc (TRIP) both experienced unusually high options trading volumes today, each exceeding their average daily trading volumes by over 100%. SRRK registered 18,555 contracts, with significant activity in the October 2025 $35 strike call options, while TRIP saw 23,446 contracts traded, largely driven by the October 2025 $20 strike call options, indicating heightened speculative interest or anticipated future price movements in both equities.

Analysis

Both Scholar Rock (SRRK) and Tripadvisor (TRIP) experienced a significant surge in options trading activity, with total volumes reaching 107.2% and 106.9% of their respective average daily share volumes. The activity was highly concentrated, indicating specific strategic positioning rather than broad market noise. For SRRK, a notable 6,157 contracts were traded for the $35 strike call option expiring in October 2025, representing a substantial portion of the day's volume. Similarly, TRIP saw heavy trading in its October 2025 call options, with 6,859 contracts changing hands at the $20 strike price. This parallel focus on long-dated call options in two distinct companies suggests that a segment of the market is making a pronounced, bullish bet on significant price appreciation for both equities over a one-year-plus timeframe.

Key Decisions for Investors

• Acknowledge the significant long-dated call volume in SRRK and TRIP as a potentially strong bullish indicator, warranting further due diligence into the fundamental long-term growth catalysts for each company.
• Investors could use the heavily traded strike prices—$35 for SRRK and $20 for TRIP—as market-implied reference points for potential long-term price targets when evaluating their own models or positions.