Super Micro Computer Sees Unusual Bullish Options Bet as Stock Trades Near Midpoint of 52-Week Range

By TrendSpider Editor

A notable options trade in Super Micro Computer, Inc. (SMCI) is drawing attention Tuesday, with a block of 1,800 call contracts at a $105 strike expiring January 2028 commanding $964,800 in premium, dwarfing a smaller put position and signaling at least one large player is making a long-dated bullis

Super Micro Computer Sees Unusual Bullish Options Bet as Stock Trades Near Midpoint of 52-Week Range

A notable options trade in Super Micro Computer, Inc. (SMCI) is drawing attention Tuesday, with a block of 1,800 call contracts at a $105 strike expiring January 2028 commanding $964,800 in premium, dwarfing a smaller put position and signaling at least one large player is making a long-dated bullish wager on the stock. SMCI shares are trading at $40.62, up 2.60% on the session, sitting well above the 52-week low of $19.49 but still significantly below the 52-week high of $58.775. The $105 strike target would require the stock to more than double from current levels before expiration, underscoring the speculative but high-conviction nature of the trade.

Key Drivers of the SMCI Stock Move

• Main Catalyst: Two unusual options contracts were flagged today, totaling $1,007,270 in combined premium. The dominant position is a call at the $105 strike expiring January 21, 2028, with 1,800 contracts traded and open interest utilization at 21%. A secondary put at the $5 strike expiring December 15, 2028, with 685 contracts and 7% open interest utilization, adds a minor bearish layer but carries only $42,470 in premium.
• Bull Case: The $964,800 call premium represents over 95% of total unusual options spend today, a lopsided allocation that points strongly toward bullish conviction. With SMCI up 2.60% on the session and already more than doubling off its 52-week low of $19.49, the call buyer may be positioning for a continuation of a longer-term recovery trend well into 2027 and beyond.
• Bear Case: The $105 call strike is more than 158% above the current price of $40.62 and sits well above the 52-week high of $58.775, making this a deeply out-of-the-money bet that requires extraordinary upside to pay off. Meanwhile, the put at the $5 strike, though small in premium, could reflect a low-cost hedge against a catastrophic downside scenario, a reminder that tail risks for SMCI have not fully disappeared from institutional thinking.

The forward setup for SMCI is nuanced. The stock has staged a meaningful recovery from its 52-week low of $19.49, now trading at $40.62, but the distance to the 52-week high of $58.775 suggests the stock still has ground to reclaim before testing prior resistance. The long-dated nature of both options contracts, one expiring in January 2028 and the other in December 2028, suggests sophisticated players are not trading short-term catalysts but rather a broader multi-year thesis on the company. Super Micro has remained in focus as a key server infrastructure supplier tied to AI and data center buildout demand, and any forward momentum in that spending cycle could be central to whether the $105 call ever comes into play.

SMCI Unusual Options Activity

• Contract 1: Call | Strike: $105 | Expiry: January 21, 2028 | Volume: 1,800 | Open Interest Utilization: 21% | Out of the Money
• Contract 2: Put | Strike: $5 | Expiry: December 15, 2028 | Volume: 685 | Open Interest Utilization: 7% | Out of the Money

Total unusual contracts flagged: 2. Total premium across both contracts: $1,007,270. Call contracts accounted for $964,800 of that total, with puts representing just $42,470. The 23-to-1 premium ratio between the call and put positions reflects a decisively bullish skew in today's unusual flow.

SMCI Seasonality

September has historically been a mixed-to-weak month for technology hardware names as institutional portfolios are repositioned heading into the final quarter. However, the use of long-dated 2028 expiration contracts suggests today's options activity is not seasonally motivated, but rather a structural, thesis-driven positioning play that extends well beyond typical near-term seasonal patterns.

SMCI Relative Performance

SMCI's 2.60% gain on Tuesday positions it as an outperformer relative to broader technology sector moves on the session. Having recovered from a 52-week low of $19.49 to its current price of $40.62, SMCI has posted a gain of more than 108% from its trough, though it still trades roughly 31% below its 52-week high of $58.775, leaving meaningful upside to prior peak levels before the stock can claim full technical recovery.