Understanding Tilray's Unusual Options Activity

On Monday, shares of Tilray (NASDAQ:TLRY) saw unusual options activity. After the option alert, the stock price moved up to $16.19.

  • Sentiment: BULLISH
  • Option Type: SWEEP
  • Trade Type: CALL
  • Expiration Date: -08-20
  • Strike Price: $24.00
  • Volume: 2310
  • Open Interest: 7074

Three Ways Options Activity Is ‘Unusual'

One way options market activity can be considered unusual is when volume is exceptionally higher than its historical average. The volume of options activity refers to the number of contracts traded over a given time period. The number of unsettled contracts that have been traded, but not yet closed, is called open interest. These contracts are not yet closed because a buyer has not purchased the contract, or a seller has not sold it.

Another indicator of unusual options activity is the trading of a contract with an expiration date in …

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