NVS Unusual Options Activity - Novartis AG

AI summary

On September 11, 2026, Novartis AG (NVS) exhibited notable options activity, primarily in put contracts. A total of four prints were recorded, with a significant put premium of approximately $17.3 million, while call premiums were absent. The activity was concentrated in puts with varying strike prices expiring on September 18, 2026, and December 18, 2026. The largest print involved a put option at a strike price of $160, with a premium of about $8.5 million and a volume-to-open interest ratio of 2.9, indicating a relatively active position compared to existing open interest. Another notable print was for a put at the $155 strike, with a premium of approximately $4.9 million and a volume-to-open interest ratio of 4.3. Additionally, a put option at the $150 strike had a premium of around $2.4 million, while a put at the $170 strike expiring in December recorded a premium of about $1.5 million, both showing a volume-to-open interest ratio of 1.5. Overall, the day's activity reflects a strong focus on put options within this timeframe.

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