Unusual Options Activity in CleanSpark, Inc. (CLSK)
Today, March 25, 2022, in the NasdaqCM, there was unusual or noteworthy options trading activity in CleanSpark, Inc. (CLSK), which opened at $13.38.
- There was repeated trading activity on the $15 strike call options dated for April 14th, 2022, traded at a spot price of $0.55 with a bid-ask spread of $0.55 to $0.65.
- The volume on these chains has now only amounted to approximately 2K and the open interest is 4K, so therefore it cannot be absolutely known whether these contracts are being opened or closed.
Additionally, these orders come after the Motley Fool explained “Why Crypto Mining Stocks Popped on Friday”.
As stated, these orders significant sizes have not yet overtaken the open interest on the chain itself:
In conclusion, the red volume is less than the blue open interest, and the volumes today are similar to those yesterday; therefore, intuition can tell us that these orders might be getting closed today. This shows how the flow can be used to follow a trade from beginning to end, tracking orders as they are sold to open and bought to close, or any variant therein.
N.B., there is always the possibility this volume is in fact new volume on the chain being opened--only by observing the open interest tomorrow following these steps can we be completely certain.
Unusual Options Activity in Walgreens Boots Alliance, Inc. (WBA)
In the NasdaqGS, there was unusual or noteworthy options trading activity in Walgreens Boots Alliance, Inc. (WBA), which opened today at $47.03.
- There were a series of orders, including sweeps, traded above the ask on the $48 strike put options dated for April 1st, 2022.
- The bid-ask on this chain was $1.35 to $1.44 and these trades were at a spot price of $1.45.
- The open interest on this chain was 68 as of today and the overall volume is now 2,946.
- Additionally, these orders come after the Motley Fool compared and contrasted Walgreens and CVS.
A tip from the flow: When viewing alerts in the Unusual Whales flow, you can click the order’s option contract expiration to open another panel which has three additional charts and a table to take a deeper dive into the company’s overall intraday options volumes, the chain’s bid-ask pressures, and historical volumes and open interests.
As stated, these orders were marked as a “sweep”. An options sweep (or sweep-to-fill) occurs when a broker splits an order into many parts in order to get the best possible pricings currently offered on the market.
- These orders can often be filled across multiple exchanges and the broker will continue to fill the order lot by lot, always for the best possible price, until the order is completely filled.
- Sweeps might stand out because they imply some entity (or entities) wanted to enter specific options contracts regardless of their price, as they were focused only on having their entire bulk order filled as quickly as possible. While the magnitude of sweeps might stand out, each one must be investigated thoroughly to understand what the sentiment of a trader is as compared to the overall flow.
Unusual Options Activity in Cutera, Inc. (CUTR)
Finally in the NasdaqGS, there was unusual or noteworthy options trading activity in Cutera, Inc. (CUTR), which opened today at $48.41.
- There was a significant or noteworthy increase in call volume on Cutera today, particularly on the $40 and $50 strike call options dated for September 16th and May 20th, 2022, respectively.
- Additionally, these orders come after RTTNews reported: “FDA Approves Cutera's AviClear For Treatment Of Mild, Moderate, And Severe Acne”.
A tip from the flow: Trades appended with the ↕ and 🔃 emojis are trades that have potentially came in together as a part of a strategy, and are coded accordingly (such as MLET or TLCT) under the codes column. Clicking on these emojis will open all of the trades that came in together so that the holistic strategy may be investigated.
Finally, these orders were found via the NEW Unusual Whales tickers flow tool; as seen, the call volume on Cutera is now 1,209.88% greater than its 30 day call volume average.