Noteworthy Tuesday Option Activity: WYNN, OSCR, CRM

Oscar Health (OSCR) and Salesforce (CRM) are experiencing unusually high options trading volume today, with OSCR seeing 112,787 contracts and CRM 35,052 contracts, representing 43.1% and 42.7% of their respective average daily stock trading volumes. Notably, long-dated call options for OSCR at the $18 strike and CRM at the $280 strike, both expiring July 2025, are seeing particularly elevated interest. This activity suggests potential bullish positioning or strategic plays extending into mid-2025 for both companies.

Analysis

Oscar Health (OSCR) and Salesforce (CRM) are experiencing a significant surge in options market activity, indicating focused strategic positioning by traders. The options volume for OSCR reached 112,787 contracts, equivalent to 43.1% of its average daily share volume, while CRM's 35,052 contracts represented 42.7% of its daily average. This activity is notably concentrated in long-dated call options, specifically the OSCR $18 strike and the CRM $280 strike, both expiring on July 11, 2025. The focus on these particular contracts, with over a year until expiration, suggests that market participants are not merely making short-term speculative bets but are likely establishing positions based on a bullish thesis with a medium-to-long-term time horizon. The high volume in these specific calls implies that a segment of the market anticipates significant upward price movement for both stocks by mid-2025.

Key Decisions for Investors

• Investors should monitor the volume and open interest in the July 2025 $18 OSCR calls and $280 CRM calls as key indicators of institutional sentiment and conviction.
• The significant flow into these long-dated calls may warrant a review of long-term models for both stocks, as it signals that some market participants are positioning for substantial upside potential over the next year.