Cardinal Health (CAH) and Newmont Corp (NEM) both experienced significantly elevated options trading volume today, with activity representing over 55% of their respective average daily stock trading volumes. Notably, specific long-dated call options, including CAH's $157.50 strike (September 2025) and NEM's $80 strike (September 2025), saw particularly high contract volumes, suggesting increased speculative interest or strategic positioning in these equities.
Cardinal Health (CAH) and Newmont Corp (NEM) have both registered significant and unusual options market activity, indicating focused strategic positioning by traders. For Cardinal Health, total options volume reached 11,869 contracts, equivalent to 55.6% of its average daily share volume. A substantial portion of this activity, 4,948 contracts, was concentrated in the $157.50 strike call option expiring in September 2025. Similarly, Newmont Corp saw options volume of 53,383 contracts, or 55.3% of its average daily share volume, with a notable concentration of 4,243 contracts in the $80 strike call option, also expiring in September 2025. The focus on long-dated, out-of-the-money call options for both companies suggests that market participants are not making short-term speculative bets, but are instead positioning for a significant, long-term appreciation in the underlying stock prices. This level of concentrated, long-dated options volume relative to daily stock liquidity is a material signal of a bullish outlook held by a segment of the market.
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