Bears Take Aim at Airlines While Bulls Scoop Up Software
By Steve Strazza
March 5, 2026
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 March 5:
*Click to enlarge view
Alaska Air $ALK — The airline sector is facing headwinds as macro uncertainty and softer consumer spending weigh on travel demand.
Bears stepped in with 6,000 contracts of the 4/17 $42.5 puts for $1.6M in premium.
Antero Resources $AR — AR has been coiling in a tight consolidation for weeks and is now starting to show signs of life with a breakout move that's catching traders' attention
Bullish flow hit with 801 contracts of the 8/21 $45 calls — traders positioning for a move higher in this natural gas pure play.
Intuit $INTU — From laggards to leaders this week with software names beginning to catch meaningful bids.
Bullish flow showed up in size with 1,111 contracts of the 9/18 $600 calls for $2.5M in premium — a sizeable bet that the comeback story has already begun.
