Data Source: Barchart
On Tuesday some institution/fund purchased 7,722 contracts of Jan 2023 $47.5 strike calls (or the right to buy 772,200 shares of Walgreens Boots Alliance, Inc. (WBA) at $47.5). The open interest was just 2,831 prior to this purchase.
Monitoring unusual options activity can be a useful tool. Large amounts of options being traded on a particular stock may provide some valuable insight into what the “smart money” is doing.
