Many investors don’t pay attention to it, because options are too confusing and there can be multiple implications from a single data point. However, traders who are looking for opportunity often like to see their thesis line up with unusual options activity.

Simply put, when large traders or big investors (like hedge funds and investment firms) make their moves, they can often leave their footprints behind. Those footprints show up in the form of outsized options activity in the underlying stocks. 

With that in mind, let’s look at 10 stocks with some heavy call flow over the last week. 

AbbVie (ABBV)

Earlier this month, someone sold almost $3 million worth of the AbbVie (US:ABBV) January 2024 $150 calls, which was a slightly out-of-the-money bearish call option position. However, that trade is being overshadowed by a more recent — and more bullish — trade. 

That’s after someone bought $7.65 million worth of the January 2025 $145 calls. This in-the-money trade took place in calls that expire in almost two years, so there’s plenty of time for further gains. 

Alphabet (GOOGL and GOOG)

Despite the pullback in Alphabet (US:GOOGL) (US:GOOG) over the past few days, there’s been plenty of bullish price action in both classes of stock. A bulk of this action took place in short-term expirations, as traders positioned for more volatility. 

However, a few trades that stood out in GOOGL were $1.1 million worth of the March $110.50 calls, $2.65 million worth of the September $107.50 calls and $2.17 million of the June $107 calls. 

For GOOG stock, it included roughly $1 million of the February 24th $93 calls and $1.84 million of the January 2024 in-the-money $80 calls.

Meta (META)

Sticking with the big-tech theme, Meta (US:META) also stood out. This stock has actually had a lot of mixed options activity, particularly in contracts with short-term expirations.

However, one trade that stood out occured as $1.02 million in premium was spent on the February $180 puts — a bearish options bet. 

Palo Alto Networks (PANW)

In January, Palo Alto Networks (US:PANW) had some big put trades go through, but this time, it’s the bulls’ turn. 

Earlier this month, someone paid more than $11 million for the in-the-month September 2025 $135 calls (while shares were trading at $155 at the time of the trade). That expiration is almost three years from now!

More recently, one trader sold $4.575 million worth of the January 2025 $135 puts, which were also about $20 in-the-money despite taking place almost a week later. This is a bullish put position and if it’s connected to the first trade, it could be being used to help finance that big call position. 

AMC Entertainment (AMC)

The so-called “meme stocks” have been heating up again lately and as such, options volume has been jumping for AMC Entertainment (US:AMC). 

On February 6th, someone paid $1.7 million for the January 2025 $1 calls, even though shares were trading near $7 at the time. 45 minutes later and near the end of the session, another trader paid over $1 million for the February $4 calls. 

Finally, two days later another trader sold over $450,000 of this month’s $4 calls in an opening bearish trade — not closing the one we just covered — while more bearish flow dominated the tape. 

Block (SQ)

Block (US:SQ) will report earnings on February 23rd, but the flow is already starting to accumulate in the stock. 

On February 7th, someone sold $1.3 million of the at-the-money $83 calls expiring on February 24th — expiring with a enough time to capture the earnings report. 

However, there was plenty of other action in the February 24th options, including more than $4 million worth of calls ranging between the $80 and $84 strikes and all of which were slightly out-of-the-money. 

Activision Blizzard (ATVI)

We can keep Activision Blizzard (US:ATVI) short and sweet. A few days after the company reported earnings, someone made a bullish bet by selling $2 million worth of the April $70 calls, which were slightly out-of-the-money at the time of the trade. 

Pinterest (PINS)

Typically, it wouldn’t be worth pointing out pre-earnings options flow once the stock has already reported earnings. However, the action in Pinterest (US:PINS) was interesting. 

That’s as someone paid almost $1 million worth of premium for the September $30 calls, which have more than 215 days until expiration. That said, they were $3 out-of-the-money at the time of the trade and are now about $6 out. 

Rivian (RIVN)

There’s been a lot of chatter around EV stocks given the recent rally and Rivian (US:RIVN) is no exception. 

Four bullish trades stand out, including $589,000 for the March 3rd $19.50 calls, $485,000 for the September 2023 $20 calls, $320,000 for the far-out-of-the-money $42.50 calls and lastly, the longest-dated trade which was the January 2025 trades. That took place when someone paid $596,000 for the $17.50 calls. 

One bearish trade stood out, as someone paid $255,000 for the June $32.50 puts, which were deep-in-the-money at the time of the trade. 

Salesforce (CRM)

Last but not least, we have Salesforce (US:CRM) with some bullish options flow. That’s after one trader paid $1.9 million for the March $190 calls, which were out-of-the-money at the time of the trade, as shares were trading near $173.