Notable Thursday Option Activity: STNG, RDDT, WBA

Reddit (RDDT) and Walgreens (WBA) are seeing significantly elevated options trading volume today, with RDDT's options volume at 111.5% and WBA's at 100.5% of their average daily stock trading volumes, respectively. This surge includes notable activity in long-dated call options, specifically the August 2025 $250 strike for RDDT and the August 2025 $12 strike for WBA, suggesting increased speculative interest or strategic positioning in these names.

Analysis

Reddit Inc. (RDDT) and Walgreens Boots Alliance (WBA) are both experiencing exceptionally high options trading volume, signaling a significant increase in speculative or strategic positioning. RDDT's options volume reached 90,520 contracts, representing a notable 111.5% of its average daily stock trading volume. Similarly, WBA's options volume hit 62,904 contracts, equivalent to 100.5% of its average daily share turnover. The activity is concentrated in specific long-dated contracts, with 4,714 contracts trading for RDDT's August 2025 $250 strike call and a substantial 26,869 contracts for WBA's August 2025 $12 strike call. This focus on distant, out-of-the-money call options for RDDT and closer-to-the-money calls for WBA suggests that certain market participants are placing significant bets on long-term price appreciation for both companies, albeit with different risk profiles.

Key Decisions for Investors

• Investors should monitor the open interest and subsequent volume in the specified RDDT and WBA call options, as continued accumulation could indicate growing conviction behind a bullish long-term thesis.