Unusual Options Activity in Ring Energy, Inc. (REI), Micron Technology, Inc. (MU), and Faraday Future Intelligent Electric Inc. (FFIE)

Unusual Options Activity in Ring Energy, Inc. (REI), Micron Technology, Inc. (MU), and Faraday Future Intelligent Electric Inc. (FFIE)
Seen above are the noteworthy or unusual options activity in Micron Technology, Inc. (MU).

Unusual Options Activity in Ring Energy, Inc. (REI)

Today, among the underlying components of the NYSE American, we saw unusual or noteworthy options trading volume and activity in Ring Energy, Inc. (REI), which opened at $2.38.

There were a total of 9,400 contracts traded on the $2.5 strike call option at the bid, dated for October 15th, 2021, representing approximately 940,000 shares.

These orders come after energy stocks gained momentum on Tuesday, September 7th's, open.  Furthermore, a filing with the SEC revealed that on August 20th, William R. Kruse purchased 764,052 shares of REI, for a cost of $1.92 each, for a total investment of $1.47M.

Seen above are the noteworthy options orders in Ring Energy, Inc. from the Unusual Whales Flow.
Per the chart above, representing Ring Energy, Inc.’s daily price, in blue, there was a high today of 10,171 call volume thus far, seen in green.

Earlier this year, the green volume previous, on August 19th, 2021, Ring Energy, Inc.’s call volume had reached a high of 125,339, just ahead of the aforementioned SEC filing where insiders traded exclusively.

Ring Energy, Inc.’s average 30 day call volume is 1,900, and as of the first hour of open, today’s volume represents a 535% increase over the mean.

Further 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 yesterday and today in Micron Technology, Inc. (MU), which opened at $71.63.

There were a total of 16,000 contracts traded on the $75 strike put option at the ask, dated for November 19th, 2021, representing approximately 1,600,000 shares.  

There was an additional order of 16,000 contracts traded on the same strike, however as a call at the bid, and for the same date, representing an additional 1,600,000 shares.  Both of these orders represent a bearish sentiment.  

These orders continue to come in after our report yesterday on Micron Technology, Inc.

Seen above are the noteworthy or unusual options activity in Micron Technology, Inc. (MU).
Seen above are Micron Technology, Inc’s flow levels, broken down by minimum premiums of at least $30,000. On the left are chains broken down by expiration and on the right they are broken down by strike.

As can be seen, whales are bettering bearishly on the November 19th expiration at a premium level of $128,139,888, as compared to the bullish premium of $16,385,784, which represents a 782% increase of bears betting over bulls.

Unusual Options Activity in Faraday Future Intelligent Electric Inc. (FFIE)

Finally, in the Nasdaq Global Market Composite (NasdaqGM), we saw unusual or noteworthy options trading volume and activity in Faraday Future Intelligent Electric Inc. (FFIE), which opened at $9.25.

There were a total of 6,160 contracts traded on the $10 strike put option at the ask, dated for October 15th, 2021, representing approximately 616,000 shares.  

Additionally, there were 2,500 contracts traded at the same strike, also at the ask, for the same date, representing another 250,000 shares.

Furthermore, these orders come after Tuesday, September 7th’s announcement that Faraday Future Intelligent Electric Inc. announced it would use a direct sales strategy leveraging its online platforms for sales network expansion to market its luxury robotic electric vehicles.

Per the chart above, representing Faraday Future Intelligent Electric Inc.’s daily price, in blue, there was a high today of 27,143 put volume thus far, seen in red.

Earlier this month, on September 3rd, call volume, in green, had reached a high 127,987 and has now come down to 11,018 today; however now, as reported, put volume is beginning its trend upward.

Editor's note:  opening price for FFIE was corrected on 13 September 2021.

For further information on the unusual options activity of REI, MU, and FFIE subscribe to the Unusual Blog or visit unusualwhales.com.