Notable Friday Option Activity: TEM, CHWY, V

Chewy Inc (CHWY) and Visa Inc (V) both experienced elevated options trading volume today, with activity representing approximately 41% of their respective average daily share trading volumes. CHWY recorded 24,824 contracts, notably concentrated in the $42.50 strike call option expiring September 2025, while V saw 22,522 contracts, with significant interest in its $370 strike call option expiring March 2026. This substantial options flow, particularly in specific long-dated call strikes, suggests increased speculative interest or strategic positioning in these equities.

Analysis

Chewy Inc. (CHWY) and Visa Inc. (V) both registered significant options market activity, with total volumes accounting for approximately 41.1% and 41% of their respective average daily share volumes. This elevated level of derivatives trading indicates heightened strategic interest in both equities. For Chewy, the activity was notably concentrated in a single long-dated contract, with 5,053 of the 24,824 total contracts trading on the $42.50 strike call expiring in September 2025. This represents a substantial, targeted position anticipating share price appreciation over the next year. Similarly, Visa saw a spike in interest for its March 2026 $370 strike calls, which, while smaller in absolute contract volume at 750, points to a specific, long-term bullish outlook. The focus on specific, distant call options in both names suggests these are not broad-based speculative flows but rather may reflect strategic positioning by investors or institutions with a defined, long-term thesis.

Key Decisions for Investors

• Investors should investigate potential catalysts for both Chewy and Visa, as the concentrated, long-dated call buying suggests informed participants may be positioning for future positive developments.
• For those with positions in Chewy, the significant volume in the September 2025 $42.50 calls could be interpreted as a bullish signal, warranting a closer look at the implied volatility and the cost of hedging or participating in further upside.