The Daily Flow

This note highlights a select group of stocks showing the most unusual — and highly directional — options activity.

The goal is simple: follow the big money and trade in the direction of the underlying trend.

Here is the list of Unusual Options activity from February 20:

*Click to enlarge view

Shoals Technologies $SHLS — Solar continues to rotate back into focus as energy transition themes stay active.

Bullish flow showed up with 2,300 contracts of the 4/17 $14 calls, as traders position for a potential bearish-to-bullish reversal.

AXT Inc $AXTI — Semiconductor equipment remains on the radar as AI-driven demand and supply chain resilience support the group.

AXTI saw 1,842 contracts of the 3/20 $40 calls trade, with roughly $375K in premium, a notable near-term upside bet.

ArcelorMittal $MT — Steel is quietly firming up as infrastructure spending and tariff dynamics create a constructive backdrop.

A longer-term conviction trade hit the tape with 250 contracts of the 1/21/28 $80 calls, putting over $250K in premium to work in a LEAPS position.