Unusual Call Option Volume Spikes for SMCI and UNH

Unusual options activity surfaced on Friday, April 10, 2026, with Super Micro Computer Inc (SMCI) and UnitedHealth Group Inc (UNH) seeing a surge in contract volume. The activity was primarily concentrated in call options, suggesting a bullish tilt or strategic hedging by institutional players. Super Micro Computer recorded 266,824 contracts, equivalent to 26.7 million underlying shares. This represents roughly 55.5% of the stock's average daily trading volume of 48.1 million shares. Specifically, the $25 strike call expiring April 10 saw 42,306 contracts traded, representing approximately 4.2 million underlying shares. UnitedHealth Group also saw notable activity with 44,028 contracts traded, or 4.4 million shares. This volume accounts for approximately 46.4% of the company's average daily volume of 9.5 million shares. The $310 strike call expiring April 10 was particularly active, with 4,281 contracts traded, representing 428,100 underlying shares. While high options volume can often precede price volatility, these flows typically reflect short-term speculative positioning or risk management rather than long-term fundamental shifts in the underlying companies.