Noteworthy Monday Option Activity: CRWD, SCHW, TVTX

Charles Schwab (SCHW) and Travere Therapeutics (TVTX) experienced significantly elevated options trading volume relative to their average daily trading volumes. SCHW's options volume reached 53% of its average daily share volume, with notable activity in the $97 strike call option expiring June 20, 2025. Similarly, TVTX's options volume hit 51.4% of its average daily share volume, driven by high interest in the $15 strike put option expiring June 20, 2025.

Analysis

The Charles Schwab Corporation (SCHW) and Travere Therapeutics Inc (TVTX) have both registered significant options trading activity, substantially outpacing typical daily volumes. SCHW saw options volume reach 44,173 contracts, representing approximately 4.4 million underlying shares, or 53% of its average daily share trading volume of 8.3 million shares. Notably, the $97 strike call option expiring June 20, 2025, accounted for 23,929 contracts, indicating a considerable interest in SCHW's potential upside or hedging activity related to this price level over the next year. Similarly, TVTX options volume totaled 9,491 contracts, or about 949,100 underlying shares, which is a substantial 51.4% of its average daily share volume of 1.8 million shares. For TVTX, high volume was concentrated in the $15 strike put option expiring June 20, 2025, with 5,036 contracts traded, suggesting notable bearish sentiment, downside protection strategies, or speculation on the stock falling below this strike by mid-2025. Despite this heightened options activity, the general sentiment for both stocks remains neutral, implying these specific, long-dated option plays might reflect targeted investor theses or hedging rather than broad market-moving news.

Key Decisions for Investors

• Investors should closely monitor The Charles Schwab Corporation (SCHW) for fundamental developments that could support a move towards the heavily traded $97 strike call option level by its June 20, 2025 expiration, as this activity may indicate significant bullish bets or strategic hedging.
• For Travere Therapeutics Inc (TVTX), the pronounced activity in the June 20, 2025 $15 strike put options warrants a careful review of potential downside risks and upcoming catalysts that could influence the stock's trajectory towards or below this strike.
• Given the substantial options volume relative to daily share turnover for both SCHW and TVTX, investors should consider if this reflects emerging institutional views or speculative interest that could precede increased stock price volatility.