Cisco Systems Sees $2.5M in Unusual Call Activity as Stock Trades Near 52-Week Highs

By TrendSpider Editor

Cisco Systems (CSCO) is drawing attention in the options market Thursday after two large call contracts totaling $2,503,609 in premium hit the tape, both targeting the $130 strike ahead of the August expiration. The stock is currently trading at $119.35, down a modest 0.33% on the session, but sitti

Cisco Systems Sees $2.5M in Unusual Call Activity as Stock Trades Near 52-Week Highs

Cisco Systems (CSCO) is drawing attention in the options market Thursday after two large call contracts totaling $2,503,609 in premium hit the tape, both targeting the $130 strike ahead of the August expiration. The stock is currently trading at $119.35, down a modest 0.33% on the session, but sitting comfortably in the upper half of its 52-week range of $65.75 to $130.37. The concentrated positioning at the $130 strike, which aligns almost exactly with the 52-week high, signals that sophisticated traders may be betting on a breakout in the weeks ahead.

Key Drivers of the CSCO Stock Move

• Main Catalyst: Two nearly identical call contracts, each at the $130 strike expiring August 21, 2026, were flagged as unusual. The first carried a premium of $1,252,050 on 2,550 contracts, and the second $1,251,559 on 2,549 contracts, bringing combined unusual options premium to $2,503,609.
• Bull Case: Both contracts are out of the money but positioned just above the 52-week high of $130.37, suggesting traders are pricing in a near-term breakout. With roughly eight weeks until expiration on August 21, the positioning implies meaningful conviction in upside momentum from the current price of $119.35.
• Bear Case: Both contracts are currently out of the money, meaning CSCO would need to rally more than 8.9% from its current price just to reach the $130 strike by expiration. The open interest on these contracts represents only 44% of total open interest at this strike, indicating that existing positioning at this level is already substantial and could create resistance.

The forward setup for Cisco is notable given where the stock sits relative to its own history. CSCO has more than doubled off its 52-week low of $65.75, and the clustering of large call activity directly at the prior high suggests options traders see that ceiling as a near-term target rather than a ceiling. The repetitive sizing of the two contracts, nearly identical in both share count and premium, points toward a structured or institutional entry rather than retail speculation. Investors will be watching whether the stock can consolidate above the $119 level and mount a credible challenge at the $130 zone before the August 21 expiration.

CSCO Unusual Options Activity

Two unusual call contracts were flagged on Thursday, both sharing the same strike and expiration:

• Contract 1: Call, $130 strike, expiring August 21, 2026 | Volume: 2,550 | Open Interest: 44% | Status: Out of the Money | Premium: $1,252,050
• Contract 2: Call, $130 strike, expiring August 21, 2026 | Volume: 2,549 | Open Interest: 44% | Status: Out of the Money | Premium: $1,251,559

Total unusual premium across both contracts came to $2,503,609, with zero put contracts flagged in today's scan. The exclusively bullish flow and the absence of any offsetting put activity reinforces a directional bet to the upside.

CSCO Seasonality

Late June through August has historically been an active period for Cisco, as the company typically reports fiscal fourth-quarter earnings in mid-August, which falls within the window of these August 21 contracts. The timing of this options activity suggests traders may be positioning ahead of an expected earnings catalyst.

CSCO Relative Performance

CSCO is trading at $119.35, a decline of just 0.33% on the session, which represents relative resilience on a day that may carry broader market pressure. The stock is trading near the top of its 52-week range of $65.75 to $130.37, a span that reflects a substantial recovery over the past year. The proximity of the current price to the 52-week high underscores that bulls have been firmly in control of this name heading into the summer.