UPS – Heavy Call Buying as Bulls Target a Trend Reversal

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UPS hasn’t been a name on my screen for a while — the stock has been stuck in a long downtrend for nearly two years. But today’s flow changed the picture. A wave of aggressive call buying hit the tape, lining up with a bigger technical setup on both the daily and weekly charts. I took a small starter position and am watching for confirmation.

Options Flow

UPS saw multiple large sweeps and blocks hit this morning, all targeting the February 20, 2026 $110 calls.

Notable prints included:

  • 8,181 contracts @ $1.65 (BLOCK) — $1.35M notional

  • 3,000 contracts @ $1.694 (SWEEP) — ~$508K

  • A steady stream of 150–300-contract sweeps hitting the ask or above-ask (A/AA), showing urgency.

The flow was consistent, stacked within minutes, and almost entirely on the ask or above the ask, which is exactly what you want to see in conviction-based flow.

The volume massively exceeded open interest, a strong sign that this is fresh positioning, not closing trades.

When multi-million dollar blocks line up with smaller-but-frequent sweeps in the same strike/expiration, that’s coordinated accumulation — the kind that often precedes a bigger move.

Technical Setup

Weekly Chart

UPS has spent almost two years trending lower, making lower highs under declining 34/50/89 MAs. But the last few weeks show a shift:

  • MACD curling up from deeply negative territory — early-stage reversal behavior

  • Price has reclaimed the 8 and 21 EMAs and is tightening just under the 50 MA, which is the first major resistance

  • A high-volume node sits just above current price. If UPS can break through, there’s a volume gap up toward $116–120, which aligns with the flow’s $110 strike.

Daily Chart

The daily chart shows the same theme:

  • A slow grind higher after putting in a base around $82

  • MACD already crossed bullishly

  • The TTM Squeeze histogram increasing, often a precursor to momentum expansion

  • Price consolidating just beneath the 50 MA, which is flattening — the first sign that trend might be stabilizing instead of declining

This is the first time in a long time the weekly and daily charts are aligned on a potential new trend leg.

The Trade

The combination of:

  • Multi-million dollar call buying

  • Volume > OI

  • Bullish momentum building on weekly and daily charts

  • A cleaner upside gap toward $110–120

…makes UPS a name worth watching closely.

Full Disclosure: I grabbed a small starter position in the Feb 20, 2026 $110 calls. I’ll add only if the chart confirms with a breakout over the daily 50 MA and sustained strength into the week.

Disclaimer: This post is for informational and educational purposes only. Nothing here should be considered financial advice or a recommendation to buy or sell any security. Always do your own research and trade based on your own risk tolerance and strategy.

HBAN – Aggressive Call Flow as Regional Banks Firm Up Near Support

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HBAN isn’t a name that regularly lights up the options tape, but today the stock showed unusually coordinated bullish activity into the afternoon. Regional banks have been stabilizing as yields cool off, and HBAN is sitting at a major weekly support zone it has respected for more than a year. The combination of technical positioning and real institutional money stepping in makes this one worth watching.

The Options Flow

Today’s flow was clean, concentrated, and intentional:

  • Strike: 15

  • Expiration: 12/19/25 (very near-term)

  • Type: Calls

  • Spot: ~16.44–16.52

  • Flow type: Primarily sweeps, with several blocks

  • Size: Multiple prints in the $25K–$50K range and two large hits of $92.5K and $119.9K

Source: blackboxstock.com

Nearly every order came in at or above the ask, showing urgency and aggressive positioning. The repeat buying across 15 different prints within roughly one hour created an obvious cluster—exactly the type of setup I track for directional intention.

This wasn’t hedging. For a regional bank, buying OTM calls that expire in a couple of weeks with size and speed is a directional bet on a near-term move higher.

Technical Setup

The weekly chart supports the flow:

  • Price is reclaiming the 89-week EMA, a level HBAN respects as a trend filter.

  • The stock bounced off a volume-supported demand zone around $14–$15, which has acted as multi-month support.

  • The next heavy volume node sits around $17.80, giving a natural upside magnet if momentum picks up.

  • MACD is curling upward and momentum (TTM Squeeze histogram) is turning from red toward neutral, signaling potential for a bullish shift.

If HBAN can clear the 16.75 level (recent weekly rejection), the chart opens up toward 18+.

When institutional call buyers line up with a technical reclaim of long-term moving averages, that’s a setup I don’t ignore.

The flow is signaling that someone is positioning for a quick upside move into mid-December. With price steady above support and money flowing into the same strike repeatedly, the risk/reward aligns with a breakout attempt toward 17 or higher.

I don’t have a personal position yet, but HBAN is now on my watchlist. If price holds above the 89-week EMA and continues to build momentum next week, I may look for a long entry—either through calls or shares—depending on how the tape develops.

Disclaimer: This post is for informational and educational purposes only. Nothing here should be considered financial advice or a recommendation to buy or sell any security. Always do your own research and trade based on your own risk tolerance and strategy.

MU – Multi-Million Dollar Put Buying Hits as Data Center Trade Unwinds

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The data-center unwind accelerated today, and Micron (MU) finally cracked with the rest of the AI-hardware names. NVDA, AMD, and SMCI all sold off sharply, and MU — which had been one of the strongest semis in the group — broke trend on the 4-hour and weekly charts. That breakdown lined up with a surge of multi-million-dollar put flow, which is what pushed this onto my radar.

The Options Flow

The most notable activity today was the aggressive buying in the 11/28 $230 puts, which saw several million dollars in combined notional value. These were not small speculative bets — the size, timing, and repeated sweeps showed clear conviction that MU’s recent weakness may continue.

Additional bearish flow included:

  • High-delta near-term puts

  • Front-week contracts hit aggressively on the bid/ask

  • Follow-through sweeps as MU lost intraday support

But the 11/28 $230p stood out as the anchor flow — heavy size right as MU slipped below short-term trend support.

source: blackboxstocks.com

Technical Setup

4-Hour Chart:

MU finally lost its rising 4-hour trend channel after weeks of grinding higher. The breakdown was clean: price fell through channel support, volume expanded, and the MACD rolled over sharply. Every bounce was sold into, showing a shift from buy-the-dip to sell-the-rip behavior.

Weekly Chart:

MU printed a clear rejection from the $250–255 zone, which had been acting as resistance for the past several weeks. This week’s candle is the first meaningful fade off those highs, with the weekly MACD flattening after a prolonged run. A pullback into the $225–230 area would align with prior support, and losing that zone opens up a deeper move toward $205–210 — the top of the previous base.

With the entire data-center and AI-infrastructure group under pressure, MU’s weekly structure is showing its first signs of trend fatigue after a massive run.

The Trade

I opened a small put position on November 13th, targeting a move into the $215–225 zone initially, with potential continuation if the sector continues unwinding. I’ll be watching:

  • The $230 level — whether it holds or breaks cleanly

  • Additional large put clusters around the 11/28 expiration

  • Sector confirmation (NVDA/SMCI/AMD weakness)

UPDATE – 11/4/26 – The next day the market bounced and MU surged, blowing through $248 and heading past $255. I exited at around the $239 level, for a loss. The stock might reverse and get back down to 230, but I’m not willing to lose all of my premium to find out.

Disclaimer: This post is for informational and educational purposes only. Nothing here should be considered financial advice or a recommendation to buy or sell any security. Always do your own research and trade based on your own risk tolerance and strategy.

NVO – Oversold Setup Showing Signs of Bottoming Amid Healthcare Rebound

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After months of steady decline, NVO appears to be stabilizing just as the broader healthcare sector — led by a surge in Eli Lilly (LLY) — is regaining momentum. The sector rotation back into large-cap pharma and biotech has been strong over the past few weeks, and NVO could be positioned to benefit from that shift. Call flow has been coming in as well over the past couple of weeks.

The Technical Picture

On the weekly chart, NVO has pulled back sharply from its 2023 high near $148, bottoming out around $45 — roughly where it launched its last major uptrend two years ago. That area coincides with a high-volume node on the profile and prior breakout support. The MACD, which has been buried in negative territory for months, is finally curling upward, suggesting that bearish momentum is fading.

The 50-week moving average sits above at $69.72, with key resistance zones around $83 and $95. A move through $55–57 would mark a confirmed higher low and could open the door to a sustained rally toward those upper levels.

On the Daily Chart

The stock recently reclaimed short-term moving averages after spending months under pressure. The MACD crossover has turned positive for the first time since spring, and the recent increase in volume on up days hints at early accumulation.

In the context of LLY’s breakout and broad strength in healthcare, this improving structure on NVO looks timely. Institutional money rotating back into the sector could provide additional tailwinds, especially for high-quality names that have already been heavily discounted.

The Trade

I entered a starter call position on November 11th, looking for continuation toward the $60–65 area as the next resistance zone. My risk is defined below $45, the recent low and long-term support.

Disclaimer: This post is for informational and educational purposes only. Nothing here should be considered financial advice or a recommendation to buy or sell any security. Always do your own research and trade based on your own risk tolerance and strategy.

MRK – Technical Breakout Watch After Major Long-Term Call Buying

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There’s been notable long-dated call flow in MRK — including a $7.7M sweep in the April 2026 $90 calls — signaling institutional positioning for a long-term recovery. That’s what caught my attention and led me to take a small long position on 11/11/25.

source: blackboxstocks.com

The Technical Picture

On the weekly chart, MRK is emerging from a year-long downtrend that began near $135 in 2023. After bottoming around $73, the stock has spent months consolidating below resistance and is now showing the first signs of a trend reversal. The MACD has turned positive, and price has reclaimed the 50-week moving average, which hasn’t happened since early 2024.

The Volume Profile shows a clear high-volume node around $82–85, suggesting strong accumulation and a potential new base forming. Above this zone, the next major resistance levels sit around $109, $119, and $135.

On the Daily Chart

MRK has pushed decisively above the 50-day and 200-day moving averages, closing near $91.70 on strong volume. The MACD crossover and momentum confirm improving trend strength. The next near-term resistance sits around $97–98, with support near $85.

If price holds above $85 in coming sessions, a move toward $100 looks achievable, particularly with the longer-term flow suggesting accumulation rather than short-term speculation.

The Trade

I initiated a starter long on November 11th following the breakout above the 200-day. This is a technical position aligned with large institutional flow, looking for continued strength toward the $100–110 range. My risk level is defined below $85 — the top of the prior consolidation zone.

Disclaimer: This post is for informational and educational purposes only. Nothing here should be considered financial advice or a recommendation to buy or sell any security. Always do your own research and trade based on your own risk tolerance and strategy.

AMZN – Call Buyers Step In as Stock Tests Key Support

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Amazon saw bullish activity today with multiple large trades hitting the tape at the $245 strike expiring November 14, 2025. Two sweeps and two blocks came through between 2:49 PM and 3:47 PM ET, totaling roughly $500K in premium. These trades printed near the ask, showing buyers’ aggression as spot traded around $243–245 with implied volatility near 30%.

The Options Flow

Notably, the first sweep hit at $3.10 when AMZN traded at $243.14, followed by two $130K blocks at $3.25, and another $100K sweep at $4.00 later in the session. The consistent targeting of the same strike and near-term expiry suggests short-term bullish conviction — possibly a bounce play or momentum bet ahead of next week’s expiration.

Source: Blackboxstocks.com

Technical Setup

On the 4-hour chart, AMZN has pulled back from its recent high of $259 to retest support near $240–241, aligning with the 89 EMA and a key volume shelf. The MACD remains weak but could be nearing a potential reversal zone if buyers defend this support area. Above, resistance sits at $250, while a breakdown below $240 could open a move toward $226.

The Trade

With call buyers stepping in at support, bulls are looking for a short-term bounce toward the mid-$250s. Continuation depends on holding the $240 level and confirming momentum reversal on higher volume.

Disclosure: I bought a few of these calls.

Disclaimer: This post is for informational and educational purposes only. Nothing here should be considered financial advice or a recommendation to buy or sell any security. Always do your own research and trade based on your own risk tolerance and strategy.

TSLA – Massive Call Buying Hits Ahead of Potential Breakout

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Big money showed up again in Tesla’s options flow today. Around 10:00 a.m., a series of massive December 5th $480 call prints hit — many in the multi-million-dollar range, combining for over $40M+ in premium. Most were sweeps and blocks executed near the ask, with implied volatility steady around 58–59%, suggesting aggressive accumulation rather than closing.

The Options Flow

The largest orders included blocks of 5,400, 5,800, and 6,000 contracts — all targeting the same $480 strike expiring in a month. That level sits just above current spot ($443–445), implying traders are positioning for a near-term breakout. The clustering and sheer notional size point to institutional conviction.

 

Technical Setup

On the daily chart, TSLA continues to ride above its key moving averages, consolidating after its strong run from the mid-$200s. The 50-day SMA (~417) has been reliable support, with price now testing the upper range around $445–450. The volume profile shows a major node near $338, but above $400 there’s thin air until the prior high at $488 — the next logical target if momentum continues.

The Trade

This looks like bullish continuation flow, with funds betting on a push toward $480+ into December. As long as price holds above the 50-day, bulls have the upper hand. Watch for confirmation through $455 to validate the setup.

Personal position: I grabbed 1 contract. Too good to pass up!

Disclaimer: This post is for informational and educational purposes only. Nothing here should be considered financial advice or a recommendation to buy or sell any security. Always do your own research and trade based on your own risk tolerance and strategy.

WDC — Deep ITM Call Buying Ahead of Earnings

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Western Digital (WDC) has been one of the stronger names in the storage and semiconductor space this quarter, riding the AI-driven demand for high-capacity memory and data infrastructure. The company reports earnings this Thursday, and traders seem to be positioning early — but not with speculative short-term calls. On 10/28/25, we saw a wave of deep in-the-money call buying that looked more like stock replacement than a high-risk earnings bet.

The Options Flow

The flow on 10/28/25 stood out not just for its size, but for its structure. These weren’t cheap, short-dated calls — they were deep ITM with significant premium paid, suggesting traders may be swapping out common stock for calls to manage exposure ahead of earnings. That’s a classic institutional move when confidence in upside remains but short-term volatility risk is high. The activity was consistent and directional, pointing to continued optimism into the report.

Source: blackboxstocks.com

Technical Setup

On the 4-hour chart, WDC has been consolidating nicely, holding above the 89 EMA after reclaiming it earlier this month. That’s a key level I watch for trend continuation. As long as the stock stays above that support, the broader uptrend remains intact. Momentum has cooled slightly, which makes sense ahead of earnings, but the structure looks healthy and balanced.

The Trade

Given the deep ITM nature of the flow and the proximity to earnings, this looks more like stock replacement than a short-term trade. That’s why I’d lean toward playing commons rather than options here. With implied volatility elevated going into the report, any post-earnings pullback — even on good numbers — could trigger a sharp IV crush. Commons offer a cleaner way to participate in the trend without taking on premium decay risk.

Disclaimer: This post is for informational and educational purposes only. Nothing here should be considered financial advice or a recommendation to buy or sell any security. Always do your own research and trade based on your own risk tolerance and strategy.

NBIS — Long-Dated Bullish Flow Ahead of Fed Day

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NBIS has been one of the lesser-known names riding the AI infrastructure wave. The company focuses on advanced computing systems and network technologies that support AI scaling — the kind of behind-the-scenes hardware that makes big AI models actually run. While stocks like NVDA and SMCI dominate headlines, it’s the second-tier players like NBIS that often attract smart-money accumulation early. The stock has been quietly trending higher, showing steady accumulation and strong relative strength.

The Options Flow

On 10/28/25, traders came in aggressively for the $140 calls expiring 01/16/26 — a notably long-dated strike for this name. Several large sweeps printed back-to-back, ranging from $523K to $850K in notional value, trading around $18–19 per contract. Most of the flow hit on the ask, showing clear intent to buy rather than roll or hedge. When you see high-dollar sweeps this far out, it’s typically a signal of positioning, not speculation — especially in a name tied to one of the market’s strongest secular themes.

Source: Blackboxstocks.com

Technical Setup

The 15-minute chart showed NBIS grinding higher into the close, finishing around $125.50 and holding well above short-term moving averages. Price action remains constructive, forming a tight series of higher highs and higher lows. The next key resistance sits near $127.50–$128, with a potential breakout zone above that level. Momentum remains bullish, supported by volume expansion on up days.

The Trade

I liked this flow — it was clean, directional, and confident. But with Fed Day coming up, I wasn’t ready to chase expensive long-dated calls into potential volatility. Instead, I started with a small commons position, using the flow as confirmation rather than a direct signal. You don’t always have to trade the options themselves — sometimes the smarter move is to trade the underlying stock when the flow confirms strength. If NBIS holds up well after the Fed announcement, I’ll look to add or possibly step into the same strike the institutions were targeting. It’s all about risk management!

Disclaimer: This post is for informational and educational purposes only. Nothing here should be considered financial advice or a recommendation to buy or sell any security. Always do your own research and trade based on your own risk tolerance and strategy.

HUN — Heavy Call Buying Raises Eyebrows

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Huntsman Corp (HUN) isn’t exactly the kind of name that usually lights up the options tape. It’s an old-line chemicals company — steady, cyclical, and not often the focus of aggressive speculation. That’s why today’s flow stood out. Seeing repeated large call buys in a stock like this usually means something’s up, or someone’s positioning ahead of news that hasn’t hit the headlines yet.

The Options Flow

On October 27, a steady stream of call activity hit HUN. The $10 calls expiring November 21, 2025 kept coming in — a mix of blocks and sweeps with size and persistence that felt deliberate. One of the largest prints was a 14,000-contract block at $0.55, worth about $770K, followed by multiple smaller orders between $0.65 and $0.70, most of them on the ask. When you see that kind of consistent buying clustered around a single strike and expiration, it’s rarely random.

Technical Setup

The 4-hour chart shows a stock trying to claw its way out of a long downtrend. After bottoming around $7.75, HUN has pushed back up toward $9.38, right into resistance under the 89 EMA and a volume shelf near $10. A clean breakout through that level could set up a move toward $10.95 and $11.92, with heavier resistance up near $13.25. Momentum and MACD are both turning higher, but the stock still has work to do to prove a real reversal.

The Trade

This kind of persistent call buying — especially in a slower, industrial name — tends to mean someone’s expecting movement. Maybe there’s a catalyst on deck, or maybe it’s just smart money betting that value names keep catching a bid as rates ease. Either way, I’ll be watching to see if HUN can punch through $10 with volume and hold that move.

Disclosure: I have a personal position in these calls.

Disclaimer: This post is for informational and educational purposes only. Nothing here should be considered financial advice or a recommendation to buy or sell any security. Always do your own research and trade based on your own risk tolerance and strategy.