Unusual Call Option Volume Spikes for Hut 8 and Overseas Shipholding Group

Market data reveals a surge in options trading for Hut 8 Corp (HUT) and Overseas Shipholding Group Inc (OSG), signaling increased speculative interest in both tickers. The volume spikes are particularly notable as they represent a significant percentage of the stocks' average daily trading volumes, suggesting a concentrated bet on upward price movement. Hut 8 saw 46,050 contracts traded, equivalent to approximately 4.6 million underlying shares. This represents 113.9% of the company's average daily trading volume over the past month, which stands at 4.0 million shares. Specifically, the $60 strike call option expiring April 10, 2026, was highly active with 3,812 contracts traded. Similarly, Overseas Shipholding Group recorded options trading volume of 5,630 contracts, representing approximately 563,000 underlying shares. This activity accounts for 94.3% of OSG's average daily trading volume of 597,160 shares. The most significant activity was concentrated in the $5 strike call option expiring August 21, 2026, with 1,802 contracts traded. While unusual options flow can often precede price volatility or signal insider sentiment, these movements currently reflect speculative positioning. Traders are eyeing short-term gains for HUT and a longer-term horizon for OSG.