Understanding Canopy Growth's Unusual Options Activity

Canopy Growth (NASDAQ:CGC) shares experienced unusual options activity on Tuesday. The stock price moved up to $19.73 following the option alert.

  • Sentiment: BULLISH
  • Option Type: TRADE
  • Trade Type: CALL
  • Expiration Date: 2023-01-20
  • Strike Price: $30.00
  • Volume: 500
  • Open Interest: 3804

Three Indications Of Unusual Options Activity

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.

The trading of a contract with an expiration date in the distant future is another sign …

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