HUT call volume above normal and directionally bullish
Unusually large call buying concentrated in a Sep‑2026 115 strike accounted for the bulk of a $2.27M options day in HUT, with premium and volume in the 95th percentile and strong same‑side tape evidence of buy‑side activity.
Options activity in HUT on 2026-06-05 shows a distinctly bullish tilt driven by large call buying, with total options volume of 1,431 contracts and total premium of $2,270,319.40. Call volume dominated at 1,012 contracts versus 419 puts (put/call volume ratio 0.41), and call premium accounted for $2,009,524.50 against $260,794.90 in put premium (put/call premium ratio 0.13). Overall volume and premium were well above normal: volume vs average was 2.45x and premium vs average 3.07x, with both total_volume_percentile and total_premium_percentile at 94.7.
The activity is concentrated and appears high quality. A single contract cluster — the call at the 115 strike expiring 2026-09-18 — registered 711 contracts and $1,859,194 in premium, representing the bulk of the day’s call dollars. Same‑side tape data shows 42 trades across 10 contracts totaling $2,009,525 in premium, with an ask‑side premium ratio of 0.959 and a sweep/block premium ratio reported at 0.977 on those same‑side trades. At the broader metrics level the sweep/block premium ratio is 1.335, indicating material block or sweep activity across the session. Average absolute delta on the concentrated calls was 0.62 and average spread was a modest 3.95%, consistent with active, tradable flow rather than scattered small retail prints.
Market context is mixed: the equity closed the snapshot at $113.87 after a sharp intraday fall of $13.90 (–10.88%), and 30‑day IV sits at 97.81% with an expected move of 13.04% (±$14.87, giving an upper expected move to $128.88 and lower to $99.14). Average IV across the snapshot was elevated (average_iv_pct 111.04), which raises the cost of long option exposure but also points to sizeable option premia backing the observed activity.
This flow shows multiple confirmations — above‑normal premium and volume, a concentrated active contract cluster (115 Sep‑18 calls: 711 contracts, $1,859,194 premium), strong ask‑side same‑side tape, and documented sweep/block participation — which collectively support the characterization of unusually large, directionally bullish call buying. Earnings are scheduled for 2026-08-06, noted in the snapshot but not cited as a confirmed catalyst for the trades. The elevated IV and recent large equity move underscore the risks that accompany the priced‑in uncertainty.