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Markets Score 32 Bullish

Unusual Call Option Volume Detected in Coterra Energy and Verizon

Apr 27, 2026 17:29 UTC
CTRA, VZ
Short term

Significant spikes in call option activity for CTRA and VZ suggest bullish positioning by traders. The volume for both tickers represents a substantial percentage of their respective average daily trading totals.

  • CTRA options volume hit 32,485 contracts
  • VZ options volume reached 114,120 contracts
  • CTRA $36 calls expiring July 2026 saw high activity
  • VZ $50 calls expiring May 2026 were heavily traded
  • Activity represents nearly 45% of average daily volume for both stocks

Market data indicates a surge in options trading for Coterra Energy (CTRA) and Verizon Communications (VZ), with call volume reaching levels that deviate significantly from historical norms. For Coterra Energy, options volume reached 32,485 contracts, which equates to approximately 3.2 million underlying shares. This activity represents roughly 45.3% of the company's average daily trading volume of 7.2 million shares. Traders showed particular interest in the $36 strike call options expiring July 17, 2026, with 10,001 contracts traded. Verizon Communications experienced even higher nominal volume, with 114,120 contracts traded, representing 11.4 million underlying shares. This volume accounts for 44.5% of VZ's average daily trading volume of 25.7 million shares. The most active contracts were the $50 strike calls expiring May 1, 2026, which saw 14,963 contracts change hands. While high call volume often signals an expectation of price appreciation, such activity can also be linked to complex hedging strategies. Traders typically monitor these flows to gauge institutional sentiment ahead of potential price movements.

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