Unusual Options Activity in Coty Inc. (COTY)

Today, among the underlying components of the NYSE, we saw unusual or noteworthy options trading volume and activity in Coty Inc. (COTY), which opened at $8.36.

There were a total of 9,765 contracts traded on the $9 strike call option at the ask, dated for November 19th, 2021, representing approximately 976,500 shares.

Approximately thirty minutes after this order, there were another set of 6,241 contracts traded on the same strike for the same date, also at the ask, representing another 624,100 shares.  

Along with that order, there were another set of 1,255 contracts traded on the same strike for the same date, also at the ask, representing another 125,500 shares.

These orders come after Coty Inc. priced a public offering of about 50 million of its class A common shares owned by KKR Rainbow Aggregator LP at $8.53 per share.

Earlier this year, the green volume previous, on August 26th, 2021, Coty Inc.’s call volume had reached a high of 107,404.  Coty Inc.’s average 30 day call volume is 11,400, and as of the first hour of open, today’s volume represents a 378% increase over the mean.

Unusual Options Activity in Micron Technology, Inc. (MU)

In the market capitalization-weighted index NASDAQ Global Select Market Composite (NasdaqGS), we saw unusual or noteworthy options trading volume and activity today in Micron Technology, Inc. (MU), which opened at $73.20.

There were a total of 6,000 contracts traded on the $68 strike put option at the ask, dated for September 24th, 2021, representing approximately 600,000 shares.

There was an additional order of 2,900 contracts traded on the same strike, also at the ask and for the same date, representing an additional 290,000 shares.  These orders come in after continued reports that the Chinese economy might be rebounding, and that there are ways to benefit from this without investing in Chinese companies directly.

Unusual Options Activity in Canadian Pacific Railway Limited (CP)

Finally, among the underlying components of the NYSE, we saw unusual or noteworthy options trading volume and activity in Canadian Pacific Railway Limited (CP), which opened at $70.69.

There were a total of 1,700 contracts traded on the $72.5 strike call option at the ask, dated for October 15th, 2021, representing approximately 170,000 shares.

There were an additional 1,967 contracts traded on the $72 strike put option at the bid, dated for September 17th, 2021, representing another 196,700 shares.

Earlier in August, there was speculation of a proposal which fell through, deemed “not superior” by the Kansas City Southern Board.  Furthermore, these orders come directly after Canadian National shareholders nominate five directors to the company's board.

The volume on this report’s chain continues to increase and is now over its open interest, which was 1,684 as of yesterday’s close.  Furthermore, the September 17th $72 strike put option is the second most active, having had 22,946 open interest, and with 1,967 bid side floor trades earlier this morning.

For further information on the unusual options activity of COTY, MU, and CP visit unusualwhales.com.