Meta Platforms Sees Bullish Options Activity as Traders Target $660 Calls With $3.5M in Total Premium

By TrendSpider Editor

Options traders made a notable bullish bet on Meta Platforms on Monday, with two unusual call contracts totaling $3,468,836 in combined premium flowing into the market. Both contracts target the $660 strike price, sitting above Meta's current price of $642.95, as the stock trades within its 52-week

Meta Platforms Sees Bullish Options Activity as Traders Target $660 Calls With $3.5M in Total Premium

Options traders made a notable bullish bet on Meta Platforms on Monday, with two unusual call contracts totaling $3,468,836 in combined premium flowing into the market. Both contracts target the $660 strike price, sitting above Meta's current price of $642.95, as the stock trades within its 52-week range of $520.26 to $779.82. The activity points to directional conviction heading into the final stretch of October and through mid-November.

Key Drivers of the META Stock Move

• Main Catalyst: Two unusual call contracts were flagged on META, both targeting the $660 strike. The larger contract carries a premium of $3,159,515.70 with a size of 1,527 contracts expiring November 20, 2026, while a second contract logged 507 contracts at the same strike expiring October 30, 2026, with a premium of $309,320.70. Both are out of the money relative to the current price of $642.95.
• Bull Case: The dominant contract, expiring November 20, represents open interest utilization of 45%, signaling meaningful positioning rather than noise. A move from $642.95 to the $660 strike would represent a gain of roughly 2.6%, a modest threshold that traders appear to believe is achievable within weeks given the size of capital committed.
• Bear Case: Both contracts are out of the money, meaning they expire worthless if META fails to clear $660. The shorter-dated contract, expiring October 30, leaves traders just four days to see the stock move higher, making it a high-risk, time-sensitive trade. META's stock has moved only +0.05% in Monday's session, offering little immediate momentum to support the thesis.

The broader setup for META warrants attention. The stock sits at $642.95, well below its 52-week high of $779.82 but meaningfully above its 52-week low of $520.26, suggesting it remains in a mid-range position with room to move in either direction. The clustering of call activity at the $660 level could indicate that options traders see a catalyst on the near-term horizon capable of pushing the stock higher. With earnings season in full swing across the technology sector in late October 2026, Meta's own reporting window may be a key variable driving the positioning, particularly the short-dated October 30 contract, which would capture any imminent earnings release.

META Unusual Options Activity

• Contract 1: Call | Strike: $660 | Expiry: November 20, 2026 | Volume: 1,527 | Open Interest: 45% | Out of the money | Premium: $3,159,515.70
• Contract 2: Call | Strike: $660 | Expiry: October 30, 2026 | Volume: 507 | Open Interest: 14% | Out of the money | Premium: $309,320.70

Total unusual contracts flagged: 2. Total premium across both contracts: $3,468,836.40. No put activity was recorded, making this a purely call-sided flow with an unambiguously bullish directional lean.

META Seasonality

Late October has historically been a period of elevated volatility for large-cap technology names as earnings releases drive sharp moves in either direction. The positioning in both a short-dated October 30 contract and a mid-November contract suggests traders may be staggering exposure around a potential catalyst event in the coming days.

META Relative Performance

META's +0.05% move on Monday reflects a largely flat session, in line with a cautious tone across equity markets. At $642.95, the stock is trading approximately 17.5% below its 52-week high of $779.82, suggesting meaningful upside remains on the table if broader technology sector sentiment improves. The stock's position above its 52-week low of $520.26 by more than 23% indicates the longer-term trend structure remains intact.