Notable Options Trading Surge: DOCN, ETSY, and RDNT Command Significant Attention Today

Options markets are showing substantial activity across three Russell 3000 components today, with particularly noteworthy patterns emerging in DigitalOcean Holdings Inc, Etsy Inc, and RadNet Inc. This convergence of elevated trading volumes across these stocks warrants closer examination of what’s driving these derivative market movements.

DigitalOcean Holdings (DOCN): Concentrated Call Buying

DigitalOcean’s options market registered impressive volume numbers, with 10,519 contracts changing hands—equivalent to roughly 1.1 million underlying shares. This single day’s activity represents approximately 65% of the company’s typical monthly trading volume of 1.6 million shares, signaling concentrated interest from traders.

The most striking action centered on a specific strike price. The $50 call option expiring in February 2026 accounted for the lion’s share of activity, with 8,754 contracts (about 875,400 shares) trading throughout the session. This concentrated positioning in a single expiration suggests organized positioning or hedging strategies rather than scattered retail activity. Over the trailing twelve months, DOCN’s price action provides important context for evaluating whether this strike represents current-level buying or longer-term bullish speculation.

Etsy Inc (ETSY): Heavy Volume Positioning

ETSY options demonstrated similarly significant appetite, with 18,514 total contracts traded—translating to approximately 1.9 million shares and consuming 61.1% of the company’s average daily share volume of 3.0 million. This ratio indicates options traders are unusually active relative to stock trading patterns.

The January 2026 $57 call option emerged as the focal point, generating 3,100 contracts (310,000 shares) in a single day. This specific strike concentrated approximately 17% of the day’s total options volume, suggesting that particular price level holds significance for market participants. Whether this represents bullish conviction or protective positioning against current holding levels remains worthy of investigation.

RadNet Inc (RDNT): Put Option Accumulation

RadNet’s options complex posted 6,044 total contracts, representing 604,400 underlying shares and reaching 57.2% of monthly trading volume (1.1 million shares). Notably, this activity differed in character from the other two stocks—dominated by put buying rather than call accumulation.

The $70 put option expiring January 16, 2026 accounted for nearly all this volume, with 6,001 contracts representing 600,100 shares. This concentration in put options suggests traders are either establishing downside protection or positioning for potential price weakness, a notably different market sentiment compared to the bullish call accumulation in DOCN and ETSY.

Key Takeaway

When three large-cap stocks experience simultaneous spikes in options activity, each with concentrated positioning in specific strikes and expirations, it reflects significant institutional or sophisticated retail interest. The varying strategies—calls for DOCN and ETSY, puts for RDNT—underscore how different market participants are approaching risk management and opportunity positioning across the sector.