Unusual Options Activity Insight: Tilray

Tilray (NASDAQ:TLRY) shares experienced unusual options activity on Wednesday. The stock price moved down to $16.03 following the option alert.

  • Sentiment: BULLISH
  • Option Type: SWEEP
  • Trade Type: CALL
  • Expiration Date: 2022-01-21
  • Strike Price: $30.00
  • Volume: 1232
  • Open Interest: 10244

Three Ways Options Activity Is ‘Unusual'

Extraordinarily large volume (compared to historical averages) is one indication of unusual options market activity. Volume refers to the total number of contracts traded over a given time period when discussing options market activity. The number of contracts that have been traded, but not yet closed by either counterparty, is called open interest. A contract cannot be considered closed until there exists both a buyer and seller for it.

The trading of a contract with an expiration date in the distant future is another sign of unusual activity. Generally, additional …

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