Options activity in Dave & Buster’s (PLAY) and Ares Management (ARES) spiked intraday: PLAY saw 12,214 contracts trade (~1.2M underlying shares), about 90.8% of its one‑month average daily share volume, led by 5,163 contracts in the $19 call expiring Dec. 19, 2025 (≈516,300 shares). ARES posted 13,960 contracts (~1.4M underlying shares), roughly 84.9% of its one‑month average daily volume, with heavy interest in the $170 put expiring Dec. 19, 2025 (3,552 contracts, ≈355,200 shares), signaling significant options-driven positioning or hedging in both stocks today.
Options activity in Dave & Buster's (PLAY) was elevated today with 12,214 contracts traded, representing approximately 1.2 million underlying shares or ~90.8% of PLAY's one‑month average daily volume of 1.3 million shares. The $19 call expiring Dec. 19, 2025 accounted for 5,163 contracts (~516,300 shares), indicating concentrated bullish positioning or large call-selling/hedging activity at that strike. Ares Management (ARES) likewise saw outsized flow with 13,960 contracts (~1.4 million underlying shares), about 84.9% of its one‑month average daily volume of 1.6 million shares. The $170 put expiring Dec. 19, 2025 had 3,552 contracts (~355,200 shares), which is consistent with significant downside protection or directional bearish bets concentrated at that strike. The size of these trades relative to average daily share volume makes them potentially market‑moving and likely reflects institutional positioning rather than retail noise; both flows are long‑dated (Dec. 19, 2025) and could lift implied volatility. Investors should treat PLAY's heavy call activity as directional bullish interest and ARES's heavy put activity as protective or bearish positioning, and monitor subsequent price action, implied volatility and open interest for confirmation before changing core exposure.
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