Noteworthy Friday Option Activity: HRI, HIMS, FOUR

Hims & Hers Health (HIMS) and Shift4 Payments (FOUR) recently experienced exceptionally high options trading volume, with HIMS's options activity representing 98.1% of its average daily share volume and FOUR's at 94.8%. Significant interest was concentrated in long-dated call options, specifically the HIMS $60 strike expiring September 2025 and the FOUR $180 strike expiring January 2027, indicating notable speculative positioning or strategic hedging around these price targets.

Analysis

Hims & Hers Health (HIMS) and Shift4 Payments (FOUR) have both registered exceptional options market activity, indicating significant investor positioning. For HIMS, total options volume reached 278,655 contracts, representing a substantial 98.1% of its average daily trading volume in the underlying stock. A notable concentration of this activity was observed in the $60 strike call option expiring in September 2025, which saw 29,880 contracts traded. Similarly, FOUR experienced options volume equivalent to 94.8% of its average daily share volume, with a strong focus on the $180 strike call option expiring in January 2027, accounting for 10,011 of the 11,746 contracts traded. The focus on long-dated, out-of-the-money call options for both companies suggests the establishment of large, bullish positions, reflecting a market segment's conviction in significant long-term price appreciation rather than short-term speculation.

Key Decisions for Investors

• Investors should view the high volume in long-dated call options for HIMS and FOUR as a strong signal of bullish sentiment from a segment of the market, warranting a closer look at the fundamental catalysts that could drive such significant upside.
• For Hims & Hers, the September 2025 $60 strike price serves as a key psychological level to monitor, and this options flow could prompt a re-evaluation of the company's long-term growth trajectory.
• The extremely long-term bullish bet on Shift4 Payments reaching $180 by January 2027 suggests that long-term oriented investors may want to analyze the company's competitive advantages and market expansion potential.
• While this activity is bullish, it could represent a speculative play or a hedge against another position, so it is prudent to corroborate this signal with fundamental analysis before making capital allocation decisions.