Whales Bet Big: Tech, Energy, and Construction Stocks
Notable Flow 10/16
WOW. What a day from small caps and short squeeze names alike. Some absolute monster top movers in the market today across the board. Let’s take a look at what we have gathered for you all today!
Notable Flow:
PGY 0.00%↑ 11C 11/15 Exp
FLR 0.00%↑ 75C 01/16/2026 Exp
IREN 0.00%↑ 16C 05/16/2025 Exp
ZETA 0.00%↑ 30P 11/15 Exp
PGY 0.00%↑ 11C 11/15 Exp
Vol: 8,780 OI: 2,371 Avg: $1.24 Prem: $1,095,083
This trader is adding ITM calls to a chain with 2.4k contracts in OI. With almost 7.5k contracts trading at the Ask for Calls expiring in 30 days, this Whale must feel confident about this trade. Additionally, the 12C with the same expiration saw unusual activity with over $600k in total premium traded. The stock had its highest call buying in the past 30 days.
Last week we saw the CBO disclose a major insider buy and this morning their price target of 21/share by Benchmark was “maintained”. Considerably bullish news all the way around and looking at the daily chart, the STD channel provided great buying opportunity at the bottom of its range/base.
Note: this trade was placed early in the morning and the position has already doubled in profits exceeding 100%. Imperative that we check the OI in the morning to see if this trader is looking for more gains with a month of time remaining.
FLR 0.00%↑ 75C 01/16/2026 Exp
Vol: 4,378 OI: 18 Avg: $3.30 Prem: $1,445,004
Over 3k contracts were traded at the Ask on this chain of calls, which are 36% OTM and have 457 days to expiration. The stock had its highest options volume in the past 90 days and its highest call buying in the past 30 days.
We previously mentioned this name a while back ago with the 60C for next June and it seems as though the trade is becoming increasingly popular as we see a further OTM strike come in with significantly less time. Interesting idea here as the stock has broken out of the aforementioned monthly downtrend and continues to have strength. Notable levels of resistance remains 60.00 before entering the FVG overhead. The company reports their next earnings in early November.
IREN 0.00%↑ 16C 05/16/2025 Exp
Vol: 3,250 OI: 141 Avg: $1.65 Prem: $702,851
This Whale traded almost 3k contracts at the Ask, making up almost all the daily volume in this chain. This trader expects a big move in the next 212 days by buying calls that are 75% OTM. Iris Energy shares rose 4% today after the company announced that it expects its AI Cloud Services division to generate around $32 million in profit by December.
MOAR CRYPTO MOAR MUNNY. Ok but seriously, the BTC cup and handle is seemingly breaking today and if we do see continuation of this break through all-time-highs, the run could get parabolic across the entire sector that is mining / servicing these names. IREN being one of the more popular names in this group because their business operations do not solely rely on mining makes them a favorable asset in relation to the others such as MARA/RIOT alike. The breakout is real, the banana zone is real, and the opportunity presented is real. Is it possible it fails? Of course. But we’re here to wager gentlemen. The chart on IREN itself is beautiful as well presenting us with a weekly flag break to the upside into the FVG towards 10.4.
ZETA 0.00%↑ 30P 11/15 Exp
Vol: 5,050 OI: 561 Avg: $2.37 Prem: $1,819,111
The stock had its highest put buying in the past 30 days, particularly Whales, which showed some interest in this chain with over 5k volume. It is noteworthy to mention that about half of the volume came with no side. We speculate that they are also being opened based on the net premium chart, but we must check OI tomorrow once it updates to get confirmation.
Pretty remarkable rally since August increasing over 70% from low to high and currently sitting just above 50% since then, ZETA faces a date with a short term support line. It is worth noting that this date chosen here comes the same week as their next earnings report (Nov 11th). This trader would like to see this short term support trendline break losing the 10n & 20DMA’s before ultimately going ITM and entering the gap below. Somewhat of a mean reversion trade off of highs but we have already seen a ~20% decrease in value the previous few sessions.
Thanks for joining us today and we hope you liked it! As always, likes are greatly appreciated and we will see you all in the morning for the OI checks.
Best Regards,
Kian, Jersace, & Jon