Tech stocks are drawing plenty of attention in the options pits today, as traders digest the latest AI headlines. Meta Platforms (META) is in focus after the tech giant touted early interest in its new Muse AI agent, while C3.ai Inc (NYSE:AI), Grab Holdings Ltd (NASDAQ:GRAB), and Sirius XM Holdings Inc (NASDAQ:SIRI) are the top three names seeing unusual options volume so far.
C3.ai stock is down 1.7% at $10.34 at last check. Options volume is running at five times the usual intraday amount, with 163,000 contracts exchanged so far. Calls and puts are nearly evenly split, with 82,000 calls and 81,000 puts crossing the tape. The shares are hovering not far above their record low of $7.68. The weekly 9/11 11-strike call is seeing the largest increase in open interest (OI) today.
Grab stock is down 6.5% at $3.04, earlier hitting a more than two-year low of $3.00 amid regulatory concerns and recent insider selling. More than 123,000 options have changed hands so far, or six times the usual intraday volume. Calls are particularly popular, accounting for 82% of the activity, with 102,000 calls compared with 21,000 puts. The weekly 10/23 3-strike call and October 3 call are the most popular, with new positions being bought to open at both.
Sirius XM stock is 0.9% lower at $28.55 at last glance, struggling with overhead pressure at the 50-day moving average. Options volume is running at 3.5 times the usual intraday amount, with roughly 71,000 contracts exchanged. Call traders are overwhelmingly responsible for the activity, accounting for 99% of total volume, compared with just 374 puts. The weekly 9/11 30-strike call is seeing the most activity.
