--- title: "Nebius options: Nov. 20 $110 call prints 567 contracts in one trade, 5,168 across the session" type: "News" locale: "en" url: "https://longbridge.com/en/news/305533941.md" description: "Option volume ran at 2.41 times its 20-day average and 19 qualifying large trades totalled $28.08 million in premium, 80% of it in calls, while the put/call ratio of 0.78 stayed inside its band." datetime: "2026-11-14T06:12:23.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/305533941.md) - [en](https://longbridge.com/en/news/305533941.md) - [zh-HK](https://longbridge.com/zh-HK/news/305533941.md) generator: "portal-rs" --- # Nebius options: Nov. 20 $110 call prints 567 contracts in one trade, 5,168 across the session $Nebius(NBIS.US)$ options traded 603,000 contracts on Friday, Nov. 13, 2.41 times the 20-day average of 250,000 and above the upper bound of that range. Call volume reached 339,000 contracts, 2.27 times the 20-day average of 149,000 and still inside the range. Puts traded 264,000, or 2.62 times their 101,000 average, above the upper bound. The put/call ratio finished at 0.78 against an average of 0.67, so it ran above baseline while staying inside the 0.45 to 1.20 band. Total open interest (OI) came to 1,964,000 contracts, 1.13 times the average and likewise above the upper bound, while the put/call open interest ratio of 0.93 sat just below its 0.94 average. ## The large trades 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 2.0 or higher. Contracts also had to sit 7 to 90 days from expiration, with absolute delta between 0.15 and 0.80. The universe covered six expiries inside that window, Nov. 20 to Dec. 24, taking only the strike nearest the close on each. Those strikes sat about 0.8% to 13.7% away from the close in either direction, 120 contracts in all. Nineteen trades qualified, totalling $28.08 million in premium. Fourteen of them were calls, worth $22.49 million, or about 80% of the premium; five were puts, worth $5.59 million. Premium tilted toward the call side, yet both sides carried size. The Nov. 20 $117 put traded 2,789 contracts on the session for $2.26 million and 14.60 times its open interest, and six of the ten largest trades by premium were Nov. 20 calls between $110 and $120. ## Trades worth flagging | Contract | Full-session volume | Largest print | Open interest | Vol/OI | Premium | Side | | ----------------- | ------------------- | ------------- | ------------- | ------ | ------- | ---------- | | Nov. 20 $110 call | 5,168 | 567 | 119 | 43.43 | $4.78M | at the bid | | Nov. 20 $120 call | 6,667 | 130 | 1,745 | 3.82 | $3.77M | at the bid | | Nov. 20 $115 call | 3,933 | 200 | 402 | 9.78 | $2.98M | at the bid | All three contracts expire in seven days. The $110 call traded 5,168 contracts against open interest of only 119, so its 43.43 vol/OI rests on a thin base; most of that volume looks like newly opened exposure, and the next session's open interest will show whether it stays. The $120 call's 3.82 ratio sits on 1,745 contracts already outstanding. The $115 call's ratio was 9.78. Tape samples speak only for the window they cover. The $110 call's final 645 prints span 9:31 a.m. to 3:59 p.m. ET, 100% of the session. The $120 call's final 1,000 prints cover 10:56 a.m. to 3:59 p.m. ET, or 54% of the session, and the $115 call's final 1,000 cover 9:35 a.m. to 3:59 p.m. ET, 97%. The largest print in the $110 sample was 567 contracts at 10:16 a.m. ET, at the bid; the largest print in all three samples went off at the bid. By contract count, at-the-ask fills were 53%, 52% and 54% of those samples, and at-the-bid fills 47%, 48% and 46% — close to an even split that the largest single trade does not match. The $110 call put 60% of its volume between 10:00 and 10:30 a.m., with a single-minute peak of 1,531 contracts at 10:16 a.m. The $120 and $115 calls clustered between 9:30 and 10:00 a.m., at 21% and 42% of their sessions. ## Open interest and volatility Across expiries in the universe, call open interest is heaviest at the $120 strike at 3,078 contracts, followed by $100 at 1,765 and $130 at 1,623. Puts stack up at $115 (11,534), $110 (7,263) and $100 (6,179); the $115 put strike is 3.7 times the heaviest call strike. $100 to $130 is the range the options market is pricing around. Thirty-day at-the-money implied volatility (IV) finished at 104.5%, taken as the average of the Dec. 11 $115 call and put; historical volatility on the same contract was 146.8%. Straddle pricing on the Dec. 11 expiry implies a move of roughly ±19.6%, or a band of $93 to $139, using the 85% straddle convention. ## 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, Nov. 13, 2026. Universe: 6 expiries 7 to 90 days out, strikes about 0.8% to 13.7% from the close on either side, 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 - [NBIS.US](https://longbridge.com/en/quote/NBIS.US.md) ## Related News & Research - [Nebius tests the neocloud playbook with $40 billion in planned spending](https://longbridge.com/en/news/305373407.md) - [Prediction: Nebius Stock Will Surge 95% in a Year, According to Wall Street. 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