Unusually Active Options: 3 Long Strangle Plays to Watch This Weekend

The $3 call’s Vol/OI ratio was 3.64. That’s not double-digits, but it’s still considered unusually active. The first thing I notice is that 99% of the trades were for 10 contracts or more, with five accounting for 89% of the trades of 10 contracts or more.However, before I do that, let’s consider yesterday’s 2,000 call option contracts traded for the$ 3 call.Although Tilray’s (TLRY) options volume yesterday was reasonable at 148,312, nearly 10% of its open interest, the Nov. 14 $3 call was the only unusuall ...