META Stock: Unusual Options Activity Signals Bullish Positioning Above Current Price

March 19, 2026

By TrendSpider Editor

META Stock: Unusual Options Activity Signals Bullish Positioning Above Current Price

Two unusual options contracts flagged on Meta Platforms today stand out, with a single $650 call block carrying a premium of $982,500 and an in-the-money $590 call expiring March 30 showing open interest utilization of 1,100%. Meta shares are currently trading at $606.67, down 1.46% on the session, and sit within a 52-week range of $479.80 to $796.25, placing the stock closer to the lower half of that band despite the bullish options positioning.

Key Drivers of the META Stock Move

Main Catalyst: Two unusual options contracts were detected on Meta today. The headline trade is a 500-contract call block at the $650 strike expiring May 15, 2026, carrying a premium of $982,500. A second call at the $590 strike expiring March 30, 2026 drew attention due to its open interest utilization of 1,100%, meaning volume traded today dwarfs existing open interest by more than ten times.
Bull Case: The $650 call represents a bet that Meta can rally roughly 7.2% above today's close of $606.67 before mid-May. The sheer size of the 500-contract block and its $982,500 premium suggest a well-capitalized participant is making a directional wager to the upside. The $590 in-the-money call expiring March 30 adds near-term bullish conviction, already sitting in profitable territory relative to the current price.
Bear Case: Today's session tells a different story, with shares declining 1.46% and trading well off the 52-week high of $796.25. The $650 strike remains more than 7% out of the money, and Meta would need a meaningful reversal in near-term price action to make that contract profitable by expiration. The total premium deployed across both contracts is $1,008,284, which, while notable, represents a limited data set of just two contracts.

The options activity arrives as Meta continues to navigate a busy macro and competitive landscape. With the $650 call expiring in late May, the forward setup gives traders roughly two months for a catalyst to emerge, whether from a product announcement, broader market recovery, or incremental AI monetization progress. The in-the-money March 30 call suggests at least one participant expects near-term support to hold at current levels, while the larger May block positions for a more substantial move higher. Meta's positioning in AI infrastructure and advertising technology remains a recurring theme for the bull case heading into the next earnings cycle.

META Unusual Options Activity

Contract 1: Call | Strike: $650 | Expiry: May 15, 2026 | Volume: 500 | Open Interest Utilization: 17% | Status: Out of the Money
Contract 2: Call | Strike: $590 | Expiry: March 30, 2026 | Volume: 11 | Open Interest Utilization: 1,100% | Status: In the Money

Both flagged contracts are calls, indicating no put-side unusual activity was detected today. The total premium across both contracts is $1,008,284, with the May $650 call accounting for the overwhelming share of that spend at $982,500.

META Seasonality

March and April have historically represented a transitional period for large-cap technology names as investors look ahead to first-quarter earnings. With the March 30 call expiring in just eleven days, the near-term contract may be targeting a swift price recovery before any seasonal tailwinds tied to earnings season arrive in late April.

META Relative Performance

Meta shares are down 1.46% today at $606.67, sitting roughly 24% below the 52-week high of $796.25 and approximately 26.4% above the 52-week low of $479.80. The session decline suggests Meta is not outperforming broader market conditions today, though its position above the midpoint of its annual range indicates the longer-term trend has not fully reversed from peak levels reached earlier in the trailing twelve months.