Notable Tuesday Option Activity: HRB, PRM, CE

Perimeter Solutions (PRM) and Celanese Corp (CE) are exhibiting unusually high options trading volumes today, with each exceeding 109% of their respective average daily share trading volumes. For PRM, significant activity is concentrated in the August 2025 $17.50 strike call options, representing 1.2 million underlying shares, which suggests notable bullish positioning or hedging. Conversely, CE's elevated volume is driven by the August 2025 $40 strike put options, accounting for 588,700 underlying shares, indicating increased bearish sentiment or downside protection.

Analysis

Perimeter Solutions (PRM) and Celanese Corp (CE) are both experiencing significant options market activity, with total options volumes translating to 110.9% and 109.7% of their respective average daily share trading volumes. The activity in PRM is exceptionally concentrated, with 12,077 of the 12,166 contracts traded being in the August 15, 2025, $17.50 strike call. This represents a large, specific, and long-term bullish bet on PRM's stock price appreciating significantly over the next year. In contrast, Celanese Corp's elevated volume is highlighted by significant interest in the August 15, 2025, $40 strike put option, which saw 5,887 contracts traded. This activity points towards a substantial bearish view or a significant hedging operation to protect against a major price decline below the $40 level. The long-dated nature of these key contracts for both companies suggests strategic, rather than short-term tactical, positioning by institutional investors or large traders.

Key Decisions for Investors

• The highly concentrated volume in long-dated $17.50 call options for Perimeter Solutions suggests a strong bullish conviction, warranting a deeper investigation into potential long-term fundamental catalysts for the stock.