Shares of Tilray (NASDAQ:TLRY) saw some unusual options activity on Wednesday. Following the unusual option alert, the stock price moved up to $14.62.
- Sentiment: BEARISH
- Option Type: SWEEP
- Trade Type: CALL
- Expiration Date: 2021-09-17
- Strike Price: $20.00
- Volume: 3792
- Open Interest: 8100
Three Signs Of Unusual Options Activity
Exceptionally large volume (compared to historical averages) is one reason for which options market activity can be considered unusual. The volume of options activity refers to the number of contracts traded over a given time period. 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 …