Most Active Options Report: SNOW, CPB, CIEN, ACMR, SCHD

Snowflake Inc (NYSE:SNOW) is up 19.9% at $366.83, after the cloud company posted better-than-expected second-quarter earnings and revenue and lifted its full-year guidance. A flood of analysts raised their price targets in response, including Citigroup to $490 from $395. So far today, 188,000 options have changed hands, or eight times the intraday average, with calls accounting for 57% of the total.

Campbell's Co (NASDAQ:CPB) is down 10.8% at $21.22, after the soup maker forecast annual sales and profit below estimates amid weak consumer spending. Fiscal fourth-quarter earnings and revenue missed expectations, while the company also slashed its dividend. Options volume is running at seven times the intraday average, with 31,000 contracts traded and calls making up 58% of the total.

Ciena Corp (NYSE:CIEN) is down 9.9% at $319.33, despite better-than-expected fiscal third-quarter earnings and revenue. The company reported record quarterly revenue of $1.67 billion and adjusted earnings of $2.11 per share, though its adjusted gross-margin outlook is weighing on the shares. Roughly 27,000 options have crossed the tape, or quadruple the intraday average, with puts slightly more popular at 51% of volume.

ACM Research Inc (NASDAQ:ACMR) is down 1.1% at $69.11, with the shares attempting to rebound from an earlier intraday low of $66.42. The semiconductor-equipment stock is attracting heavy call activity, with 48% of the 27,000 options traded today on the call side. Overall options volume is running at four times the intraday average.

Schwab U.S. Dividend Equity ETF (NYSEARCA:SCHD) is up 0.1% at $35.05. The exchange-traded fund recently topped $112 billion in assets and is closing in on the Vanguard Dividend Appreciation Index Fund ETF (VIG) as the largest U.S. dividend ETF. SCHD has seen roughly 23,000 options cross the tape, or five times the intraday average, with calls accounting for 86% of the total.