--- title: "Meta options: Nov. 20 $702.5 call prints 1,000 contracts in one trade, volume-to-open-interest ratio 28.24" type: "News" locale: "en" url: "https://longbridge.com/en/news/302658706.md" description: "Meta options closed Wednesday, Oct. 21 with a put/call ratio of 0.66, above the 20-day average of 0.60 but inside the 0.44 to 0.81 range. The largest qualifying trade was the Nov. 20 $702.5 call, 1,000 contracts in one print." datetime: "2026-10-22T06:15:45.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/302658706.md) - [en](https://longbridge.com/en/news/302658706.md) - [zh-HK](https://longbridge.com/zh-HK/news/302658706.md) generator: "portal-rs" --- # Meta options: Nov. 20 $702.5 call prints 1,000 contracts in one trade, volume-to-open-interest ratio 28.24 $Meta(META.US)$ options traded 586,000 contracts on Wednesday, Oct. 21 — 352,000 calls against 234,000 puts, for a put/call ratio of 0.66. The ratio sits above the 20-day average of 0.60 and remains inside the 0.44 to 0.81 range. Total volume trailed the 20-day average of 847,000 contracts, at 0.69 times that level. Calls ran at 0.66 times their average, puts at 0.74 times. ## The large trades Two trades cleared the screen, for $8.31 million in premium combined. Both sat on the Nov. 20 expiry: the $702.5 call at $4.78 million and the $697.5 put at $3.53 million. Calls took 57.5% of that premium and puts 42.5%, a near-even split with one trade on each side. The screen required full-session volume of at least 500 contracts, premium of at least $100,000 and a volume-to-open-interest ratio of at least 2.0. It spanned 4 expiries from 7 to 90 days out and 120 contracts with strikes roughly 2.5% to 5.4% away from the close. ## Trades worth flagging | Contract | Full-session volume | Largest print | Open interest | Vol/OI | Premium | Side | | ------------------- | ------------------- | ------------- | ------------- | ------ | ------- | ---------- | | Nov. 20 $702.5 call | 1,271 | 1,000 | 45 | 28.24 | $4.78M | at the bid | | Nov. 20 $697.5 put | 1,041 | 1,000 | 44 | 23.66 | $3.53M | at the bid | Both contracts carried open interest of just over 40 contracts. Full-session volume came to more than 23 times that, which points to newly opened exposure rather than a rotation of existing positions. The next session's open interest will confirm. The tape sample runs from 9:30 a.m. to 3:58 p.m. ET and broadly matches full-session volume. The last 82 prints in the $702.5 call total 1,271 contracts; the last 19 prints in the $697.5 put total 1,041. The largest print in each sample was 1,000 contracts, both filled at 3:54 p.m. ET and both marked at the bid. Within the sample, 88% of the call's volume and 97% of the put's went off at the bid. The busiest half hour, between 3:30 p.m. and 4 p.m. ET, accounted for 80% of call volume and 96% of put volume. ## Open interest and volatility Total open interest stands at 3.017 million contracts — 2.0097 million calls against 1.0077 million puts, for a put/call open-interest ratio of 0.50, above the 20-day average of 0.48. Within the screened universe, the heaviest call open interest sits at the $700 strike with 23,701 contracts; the heaviest put open interest is at $680 with 9,971. The session's most active call and put both sat on those strikes, framing the range the options market is pricing around. The 30-day at-the-money implied volatility reading finished at 45.5%, against 40.5% historical volatility on the same contract. On the 85% straddle convention, the Nov. 20 expiry implies a move of roughly ±8.9%, a band of $636 to $759. ## How to read this, and how not to A large call trade is not, by itself, evidence that institutions are bullish. The same fill can come from a covered-call writer, one leg of a spread, or a hedge against a long stock position. Direction needs at least three confirmations: whether the trade went off at the bid or the ask, whether open interest rises the following session, and whether the opposing strike saw size at the same time. This article reports publicly available trade data and the screen used to select it. It is not investment advice. Source: publicly reported U.S. options trades. Coverage window: regular U.S. trading hours, Oct. 21, 2026. Universe: 4 expiries from 7 to 90 days out, strikes roughly 2.5% to 5.4% from the close, 120 contracts. Screen: full-session volume of at least 500 contracts, premium of at least $100,000, volume-to-open-interest ratio of 2.0 or higher; 7 to 90 days to expiration; absolute delta between 0.15 and 0.80. ### Related Stocks - [META.US](https://longbridge.com/en/quote/META.US.md) ## Related News & Research - [Meta Platforms, Inc. $META Shares Sold by Investment Research Partners LLC](https://longbridge.com/en/news/302837456.md) - [Meta As Of September 30, We Had $454.52 Billion Of Non-Cancelable Contractual Commitments](https://longbridge.com/en/news/302696401.md) - [Meta has strong chance of getting $25 billion New Mexico penalty slashed on appeal, experts say](https://longbridge.com/en/news/302692678.md) - [Meta Platforms, Inc. $META Stake Lifted by Secure Asset Management LLC](https://longbridge.com/en/news/302846885.md) - [Meta Earnings Preview: Muse, AI Capex and Q3 Outlook](https://longbridge.com/en/news/302318608.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**