Unusual Options Activity in Evolent Health, Inc. (EVH)
Today, among the underlying components of the NYSE, we saw unusual or noteworthy options trading volume and activity in Evolent Health, Inc. (EVH), which opened at $31.63.
Unusual Options Activity in Evolent Health, Inc. (EVH), Vimeo, Inc. (VMEO), and Shopify Inc. (SHOP)
10/4/2021
There were 1,900 contracts traded on the $35 strike call option at the ask dated for December 17th, 2021, representing 190,000 shares.
Additionally, there were another 950 contracts traded on the $30 strike call option for the same date, also at the ask, representing another 95,000 shares.
These orders come after reports stating that Walgreens Boots Alliance Inc ($WBA) is considering an acquisition of healthcare IT firm Evolent Health Inc EVH.N, Bloomberg News reported on Wednesday, citing people familiar with the matter.
On September 29th, 2021, EVH had a high of 19,283 call volume as of the first news that WBA was considering an acquisition; while bullish volume has descended today, the unusual activity above might mark the continuation of the trend.
Unusual Options Activity in Vimeo, Inc. (VMEO)
In the market capitalization-weighted index NASDAQ Global Select Market Composite (NasdaqGS), we saw unusual or noteworthy options trading volume and activity today in Vimeo, Inc., which opened today at $29.98.
There were two orders of 1,681 and 1,680 contracts traded on the $30 strike call option at the ask dated for November 19th, 2021, representing an approximate total of 336,100 shares.
These orders come after reports revealing that VMEO entered into oversold territory, hitting an RSI reading of 29.0, after changing hands as low as $31.25 per share.
As of this writing, VMEO has had 7,370 calls traded, which is 1,561% greater than its 30 day mean.
Unusual Options Activity in Shopify Inc. (SHOP)
Finally, among the underlying components of the NYSE, we saw unusual or noteworthy options trading volume and activity in Shopify Inc. (SHOP), which opened at $1,326.32.
There were two sets of 400 contracts traded on the $1350 strike call option dated for November 19th, 2021, at the ask, and the $1350 strike put option, for the same date, at the bid.
Together, this strategy represents a bullish strategy of a call option with a put collar, with an approximate 49.3% probability of profit with $2,200,000 credit collected at entry, with a maximum risk of over $51,000,000 if and only if SHOP reverts to $0 a share by expiration; the breakeven price for this strategy would be SHOP at $1,295 at expiration.
These orders come after reports explaining this continuation of a downward trend that began in July, when Shopify shares hit a record peak and were trading at sky-high valuations.
October 1st, 2021’s open interest was 222,604, a new high since earlier this year on June 18th, 2021 of 229,127 contracts being traded. SHOP’s price as of this writing has decreased to $1,339, with a new low of puts and calls being traded, below their 30 day means.
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