Most Active Options Report: KHC, PTON

Kraft Heinz Company (NYSE:KHC) and Peloton Interactive (NASDAQ:PTON) are leading today's unusual options volume list, with both names seeing a strong preference for calls. KHC has seen 87,000 calls cross the tape so far, compared to just 1,916 puts, while PTON has seen 64,000 calls exchanged against only 779 puts.

Kraft Heinz stock was last seen down 0.8% at $23.80, trading at its lowest levels since late June. With the shares pulling back to a multi-month low, options traders could be betting on a bounce. Overall options volume is running at 2.6 times the usual daily amount, with calls trading at nine times the intraday average. The most popular contracts are the weekly 9/25 24.50- and 25-strike calls, with more than 20,000 contracts exchanged at each.

Peloton Interactive stock is down 3% at $4.87 at last glance, extending a downturn that has seen the shares shed 14.9% in the last three months. The move comes one day after the fitness company unveiled a campaign starring singer Miley Cyrus to promote its first foldable treadmill. Despite today's negative price action, call traders are piling on, with overall options volume running at 4.4 times the usual daily amount. The January 2028 7- and 12-strike calls are the most popular, with 15,802 and 35,000 contracts exchanged, respectively.