High-Octane Options Trading in CRCL, OKLO, and XYZ—What the Data Reveals

The options market is buzzing with significant activity across three Russell 3000 components today, signaling noteworthy positioning shifts among traders. Here’s what’s moving the needle.

Circle Internet Group Inc (CRCL) Leads the Charge

Circle’s Class A shares are drawing heavy derivatives attention with 144,928 option contracts traded so far—equivalent to roughly 14.5 million shares when accounting for the 100-share multiplier per contract. This volume represents 74.1% of CRCL’s typical daily trading turnover of 19.6 million shares over the past month.

The most active contract is the $90 strike call option expiring December 12, 2025, which has seen 10,548 contracts exchange hands (approximately 1.1 million underlying shares). This concentrated activity in a single expiration and strike suggests traders are positioning for specific price movement expectations heading into year-end.

Oklo Inc (OKLO) Shows Defensive Positioning

OKLO options have processed 90,027 contracts today, translating to about 9.0 million underlying shares or 70.8% of the stock’s average daily share volume of 12.7 million. However, the story here differs from CRCL: the dominant trade is the $20 strike put option expiring January 15, 2027, with 6,411 contracts (641,100 shares).

This put concentration indicates traders are hedging downside risk or expressing bearish sentiment with a time horizon extending well into 2027, suggesting longer-term positioning concerns.

Block Inc (XYZ) Completes the Trio

XYZ has attracted 62,153 option contracts (6.2 million underlying shares), representing 66.8% of its monthly average daily volume of 9.3 million shares. The spotlight here falls on the $65 strike call expiring December 19, 2025, which registered 8,101 contracts or approximately 810,100 underlying shares.

Like CRCL, this call concentration signals bullish bets aligned with the year-end timeframe.

The Broader Context

These three stocks have attracted professional and retail attention simultaneously, with different strategies emerging in each. While CRCL and XYZ show call dominance suggesting upside conviction, OKLO’s put concentration tells a more cautious tale. Market observers tracking names held by prominent investors like Nelson Peltz often monitor precisely this type of derivatives activity as a gauge of informed positioning.

For traders seeking deeper dives into CRCL options, OKLO options, or XYZ options across various expirations, detailed strike and expiration data remains available through specialized options tracking platforms.

Disclaimer: This analysis presents market observations and does not constitute investment advice. The views expressed are analytical in nature and should not be considered endorsements of any trading position.