The Blubber

9:01am ET: Last week we wrote a couple articles discussing unusual options activity for Support.com (SPRT) as well as intraday movement for SPRT. However, while SPRT made the headlines, other tickers were antsy to join the fray. Vinco Ventures (BBIG), for example, made a massive run, tailing off such popular runners as AMC and Gamestop.

BBIG closed the trading session on Friday at $5.30 per share; nearly 81% in the green, $2.47 higher than it had opened. Monday morning pre-market action shows us that Friday’s sentiment appears to have carried over the weekend, with BBIG reaching a pre-market high of over $10; nearly 94%.

After such a massive push last week, let’s take a look at how whales felt on Friday, before and during BBIG's 81% push.

Friday morning before BBIG made its first big move, we can see a little bullish action on the Unusual Whales flow tool. By setting the tool filter to ask-side, we are able to view orders placed with more urgency, indicating an expectation of upward movement. In this image, the filter is also set to include only orders of $25k in premium or higher in order to catch especially unusual activity on this small market stock.

As shown in the table above, BBIG saw a decent level of bullish options flow during the early phase of BBIG’s Friday movement. There was heavy focus on the $3.5 call contract for 9/17, just barely in the money at the time of purchase. This indicated the whales(s) expected more movement. Judging by BBIG’s price movement Friday afternoon, they were right. Let’s see if that sentiment carried on through the afternoon.

In this graphic, using the same filter metrics mentioned above, we observe that as BBIG pushed higher, the options activity maintained its bullish sentiment. Later in the day, we see a shift from the $3.5 September calls into higher strikes for September.

As BBIG broke the $5 per share mark, we started to see orders come in for the farther dated October and January 2022 $7.5 call strike, as well. This end of day flow for Friday certainly shows an expectation of continued momentum.

Now with message boards clamoring about a BBIG squeeze and pre-market volume topping 14 million at the time of writing, it will be exciting to see how the rest of the day pans out. With half an hour until pre-market ends, BBIG looks strong at $8.35 per share, nearly +59%; but we will have to wait to see if the whales continue to agree as the day progresses.