Stock Options momentum radar
📊 StockInsight™ Unusual Options Volume Report
Market Chameleon’s Unusual Options Activity screen identified 192 stocks with significant options-volume spikes on September 3, with the first 25 entries shown below.
The strongest activity is concentrated in a mix of mega-cap technology, crypto-related stocks, high-beta growth names, financials and consumer stocks. Several names also show unusually large price moves or significant changes in implied volatility.
Important: Unusual options volume does not by itself indicate whether traders are bullish or bearish. The strongest signals come from combining options volume with stock-price action, implied volatility, IV Rank and upcoming catalysts.
📋 Top 25 Unusual Options Activity
| Rank | Ticker | Company | Rel. Vol. | Stock Move | IV | IV Chg. | IV Rank | StockInsight™ Read |
|---|---|---|---|---|---|---|---|---|
| 1 | AVGO | Broadcom | 3.6x | 🔴 -2.7% | 36.3% | -26.4% | 2% | Heavy post-earnings activity |
| 2 | MSTR | Strategy | 2.0x | 🟢 +17.6% | 76.6% | +13.7% | 72% | 🚨 Major momentum + volatility |
| 3 | PCG | PG&E | 9.6x | 🟢 +4.7% | 58.3% | +2.8% | 99% | 🚨 Extreme activity + elevated IV |
| 4 | HOOD | Robinhood Markets | 2.4x | 🟢 +16.6% | 64.3% | +6.8% | 45% | 🚨 Strong momentum confirmation |
| 5 | DELL | Dell Technologies | 4.3x | 🟢 +4.9% | 60.5% | -0.3% | 56% | Strong post-earnings activity |
| 6 | BAC | Bank of America | 3.0x | 🟢 +0.7% | 20.3% | -1.9% | 6% | Moderate activity / low IV |
| 7 | NKE | Nike | 3.0x | 🟢 +1.4% | 45.3% | +3.1% | 74% | Elevated volatility ahead of earnings |
| 8 | WMT | Walmart | 2.2x | 🟢 +2.2% | 21.7% | -0.8% | 23% | Moderate activity |
| 9 | SNOW | Snowflake | 5.8x | 🟢 +16.6% | 43.7% | -39.1% | 25% | 🚨 Huge post-earnings price move |
| 10 | BMNR | Bitmine Immersion Technologies | 1.8x | 🟢 +14.7% | 79.0% | +10.4% | 21% | High-beta momentum |
| 11 | HPE | Hewlett Packard Enterprise | 4.6x | 🟢 +5.0% | 55.8% | -23.6% | 64% | Strong activity, IV compression |
| 12 | BE | Bloom Energy | 2.0x | 🟢 +8.4% | 84.9% | +2.8% | 2% | High-beta momentum |
| 13 | CIFR | Cipher Digital | 2.0x | 🟢 +14.4% | 90.5% | +0.8% | 0% | Speculative momentum |
| 14 | DPRO | Draganfly | 64.4x | 🟢 +13.0% | 121.9% | +10.6% | 87% | 🚨 Extreme speculative activity |
| 15 | BULL | Webull | 2.9x | 🟢 +11.1% | 59.8% | +3.2% | 8% | Strong momentum |
| 16 | CRCL | Circle Internet Group | 1.8x | 🟢 +16.5% | 80.9% | +7.8% | 37% | 🚨 Strong momentum + rising IV |
| 17 | NU | Nu Holdings | 2.0x | 🟢 +1.8% | 32.5% | -20.8% | 14% | Moderate activity / IV compression |
| 18 | BHP | BHP Group | 39.7x | 🔴 -0.8% | 33.0% | +0.7% | 43% | 🚨 Extreme options volume |
| 19 | RIOT | Riot Platforms | 1.9x | 🟢 +13.4% | 77.6% | +1.2% | 10% | Crypto momentum |
| 20 | PATH | UiPath | 3.1x | 🟢 +1.3% | 90.9% | +3.7% | 89% | 🚨 Earnings + elevated IV |
| 21 | GPRO | GoPro | 13.9x | 🔴 -17.8% | 161.2% | -24.6% | 94% | 🚨 Extreme volatility / downside move |
| 22 | PYPL | PayPal | 1.9x | 🟢 +3.9% | 34.7% | +12.0% | 42% | Rising volatility |
| 23 | LULU | Lululemon Athletica | 5.1x | 🟢 +1.4% | 60.2% | +4.8% | 82% | 🚨 Earnings + elevated IV |
| 24 | ZS | Zscaler | 4.9x | 🟢 +2.9% | 81.7% | +13.0% | 97% | 🚨 Earnings + extreme IV Rank |
| 25 | XPEV | XPeng | 4.6x | 🟢 +0.5% | 39.7% | +6.2% | 0% | Moderate activity + rising IV |
🚨 Biggest Volume-Divergence Signals
DPRO — 64.4x Relative Volume
Draganfly stands out as the most extreme relative-options-volume event in this group.
- Options relative volume: 64.4x
- Stock: +13.0%
- IV: 121.9%
- IV change: +10.6%
- IV Rank: 87%
This is an exceptionally aggressive options-volume spike combined with a double-digit stock move and already elevated implied volatility.
StockInsight™ Read: Extreme speculative activity. The combination suggests traders are aggressively positioning around a high-volatility stock, but the data provided does not establish whether the options flow is predominantly bullish or bearish.
BHP — 39.7x Relative Volume
BHP is another major outlier.
- Options relative volume: 39.7x
- Stock: -0.8%
- IV: 33.0%
- IV change: +0.7%
- IV Rank: 43%
The interesting feature is the disconnect between extreme options activity and almost unchanged stock price.
StockInsight™ Read: Potential positioning or event-driven activity that deserves monitoring for a subsequent price breakout.
GPRO — 13.9x Relative Volume
GoPro combines extreme options activity with a major downside move.
- Options relative volume: 13.9x
- Stock: -17.8%
- IV: 161.2%
- IV change: -24.6%
- IV Rank: 94%
Despite the decline in IV, absolute volatility remains exceptionally high.
StockInsight™ Read: Extreme-risk/high-volatility setup. The price action is clearly bearish, but falling IV means the options market is simultaneously repricing volatility lower after the sharp move.
PCG — 9.6x Relative Volume
PG&E combines substantial options activity with a positive stock move.
- Relative volume: 9.6x
- Stock: +4.7%
- IV: 58.3%
- IV Rank: 99%
StockInsight™ Read: One of the strongest volatility setups in the list because IV Rank is near the extreme end of its historical range.
💥 Momentum Leaders With Heavy Options Activity
Several stocks experienced double-digit gains while simultaneously appearing on the unusual-options screen:
- MSTR: +17.6%
- HOOD: +16.6%
- SNOW: +16.6%
- CRCL: +16.5%
- BMNR: +14.7%
- CIFR: +14.4%
- RIOT: +13.4%
- DPRO: +13.0%
- BULL: +11.1%
This creates an important momentum + options activity cluster, particularly across crypto-linked and high-beta technology names.
The strongest combination of price momentum and rising IV is seen in MSTR, HOOD, CRCL, DPRO and BULL.
📉 Largest Downside Signals
GPRO
-17.8% — by far the largest decline among the 25.
AVGO
-2.7% — significant post-earnings options activity combined with falling IV.
BHP
-0.8% — notable because the stock is nearly flat despite extreme options volume.
The distinction matters: GPRO and AVGO are price-driven downside setups, while BHP is primarily an options-activity anomaly.
⚡ Volatility Explosion Watch
The largest positive IV changes include:
| Ticker | IV Change | IV Rank |
|---|---|---|
| PYPL | +12.0% | 42% |
| MSTR | +13.7% | 72% |
| ZS | +13.0% | 97% |
| CRCL | +7.8% | 37% |
| HOOD | +6.8% | 45% |
| XPEV | +6.2% | 0% |
| LULU | +4.8% | 82% |
| PATH | +3.7% | 89% |
| NKE | +3.1% | 74% |
| DPRO | +10.6% | 87% |
The most important combination is ZS, where IV is already at an extremely high 97% IV Rank while implied volatility increased another 13.0%.
🧊 Biggest IV Compression
Several heavily traded stocks experienced sharp volatility declines:
- SNOW: IV -39.1%
- AVGO: IV -26.4%
- HPE: IV -23.6%
- NU: IV -20.8%
- GPRO: IV -24.6%
This is particularly important around earnings because options can experience significant post-event volatility crush even when the underlying stock makes a large move.
SNOW is a textbook example: the stock gained 16.6%, while IV fell 39.1%.
📅 Catalyst & Event Watch
Several names have important dates attached to the Market Chameleon data:
| Ticker | Event |
|---|---|
| LULU | Earnings — Sep. 3, 2026 AMC |
| ZS | Earnings — Sep. 3, 2026 AMC |
| PATH | Earnings — Sep. 3, 2026 AMC |
| AVGO | Earnings — Sep. 2, 2026 AMC |
| SNOW | Earnings — Sep. 2, 2026 AMC |
| DELL | Earnings — Sep. 1, 2026 AMC |
| HOOD | Event — Sep. 9, 2026 |
| DELL | Event — Sep. 9, 2026 |
| PATH | Event — Sep. 8, 2026 |
| WMT | Event — Sep. 8, 2026 |
| CIFR | Event — Oct. 6, 2026 |
| HPE | Event — Sep. 30, 2026 |
| AVGO | Event — Sep. 29, 2026 |
The concentration of unusual options activity around recent earnings and near-term events reinforces the possibility that event-driven trading is a major contributor to today’s volume spikes.
🧠 StockInsight™ Options Intelligence
🔥 Extreme Activity
DPRO, BHP, GPRO, PCG
These are the biggest statistical outliers based on relative options volume.
🚀 Momentum + Options
MSTR, HOOD, SNOW, CRCL, BMNR, CIFR, RIOT, DPRO, BULL
These names combine substantial stock-price gains with notable options activity.
⚠️ High-Volatility Setups
DPRO, GPRO, ZS, PCG, CRCL, MSTR, LULU
These names have particularly elevated IV or IV Rank, increasing the potential for large options-price swings.
🧊 Volatility Compression
SNOW, AVGO, HPE, NU, GPRO
Heavy options activity is occurring alongside substantial IV declines.
🔎 Options/Price Divergence
BHP is the clearest example: extreme options volume while the stock is essentially unchanged.
🏆 StockInsight™ Options Radar
| Priority | Stocks | Signal |
|---|---|---|
| 🔴 Extreme | DPRO, BHP, GPRO, PCG | Exceptional options-volume/volatility activity |
| 🟠 High | MSTR, HOOD, SNOW, CRCL, ZS, LULU | Strong momentum, earnings or volatility signals |
| 🟡 Watch | DELL, HPE, PATH, BMNR, RIOT, BULL, CIFR | Elevated activity with meaningful price moves |
| ⚪ Monitor | BAC, WMT, NU, PYPL, NKE, XPEV, BE | Moderate unusual activity |
📌 StockInsight™ Bottom Line
September 3’s unusual-options screen is dominated by three major themes: extreme speculative activity, post-earnings repositioning and high-beta momentum trading.
The biggest statistical anomaly is DPRO at 64.4x relative options volume, followed by BHP at 39.7x and GPRO at 13.9x.
Meanwhile, MSTR, HOOD, SNOW and CRCL combine unusually active options markets with gains of roughly 16%, while GPRO represents the clearest major downside/high-volatility setup.
The most important distinction is that volume alone does not reveal whether traders are buying calls, buying puts, selling premium or executing spreads. These names should therefore be treated as attention signals rather than automatic buy/sell signals.
StockInsight™ Focus: DPRO → BHP → GPRO → PCG → MSTR → HOOD → SNOW → CRCL → ZS.
