Shares of Canopy Growth (NASDAQ:CGC) saw some unusual options activity on Monday. Following the unusual option alert, the stock price moved up to $19.31.
- Sentiment: BULLISH
- Option Type: SWEEP
- Trade Type: CALL
- Expiration Date: 2021-08-20
- Strike Price: $19.50
- Volume: 220
- Open Interest: 147
Three Indications Of Unusual Options Activity
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 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 sign of unusual activity is the trading of a contract with an expiration date in the …