Stock Markets June 29, 2026 11:08 AM

Comcast Options Activity Surges to 127,440 Contracts in Midday Session

Call orders dominate volume, with concentrated activity in July strikes and notable multi-leg strategies

By Nina Shah
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CMCSA

Options on Comcast Corp. (CMCSA) exchanged hands at a total of 127,440 contracts as of 11:01 a.m. New York time on Monday. Calls comprised the bulk of the flow at 97,280 contracts, while puts totaled 30,160. Several large single-strike and multi-leg trades accounted for much of the day’s activity, led by heavy interest in the July 17, 2026 $25 call.

Comcast Options Activity Surges to 127,440 Contracts in Midday Session
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Key Points

  • Total options volume for Comcast reached 127,440 contracts at 11:01 a.m. New York time, with calls making up 97,280 contracts and puts 30,160 contracts.
  • The July 17, 2026 $25 call was the single largest line of activity with 42,188 contracts traded and 107,806 contracts in open interest.
  • Notable multi-leg activity included a diagonal spread between the July 17, 2026 $25 call and the December 18, 2026 $40 call (7,280 contracts) and a four-leg combination of July 2 and July 10 strikes (6,808 contracts).

Options trading in Comcast Corp. registered 127,440 contracts at 11:01 a.m. New York time on Monday, according to exchange data compiled for this report. Calls dominated the session, with 97,280 contracts traded, and put volume totaled 30,160 contracts.

Detailed breakdowns of the most active positions show clustered interest around near-term July expirations and a pair of multi-leg constructions. The single most-traded strike was the July 17, 2026 $25 call, which accounted for 42,188 contracts while carrying existing open interest of 107,806 contracts.

On the put side, the July 2, 2026 $23 put registered meaningful turnover with 7,587 contracts traded and open interest of 8,598 contracts.

Traders also executed a diagonal spread that paired the July 17, 2026 $25 call with the December 18, 2026 $40 call. That diagonal accounted for 7,280 contracts in total - comprising 4,472 of the July 17, 2026 $25 calls (open interest 107,806) and 2,808 of the December 18, 2026 $40 calls (open interest 3,450).

Another active multi-leg combination involved July and July 10 strikes: the July 2, 2026 $27 calls, July 2, 2026 $25 puts, July 10, 2026 $27 calls and July 10, 2026 $25 puts. That strategy represented 6,808 contracts overall and included 1,702 contracts of each of the four option series. Open interest for those option series varied across a range from eight contracts up to 1,046 contracts.

Additional single-strike flows included the July 2, 2026 $26 call, which saw 3,391 contracts trade and showed open interest of 431 contracts.


Taken together, the day’s activity reveals concentrated positioning in near-term July expirations, supplemented by strategic multi-leg structures that extend to December. The volume profile was heavily weighted toward calls, reflecting a predominance of bullish or call-oriented positioning among the options executed during the midday session.

Risks

  • Concentration in near-term July strikes could increase short-term price sensitivity for option holders and market makers - potentially impacting volatility in the media and telecom sector.
  • Multi-leg strategies with varying open interest levels may introduce execution and assignment risk if underlying price moves sharply before or at expiration - relevant to traders and derivatives desks.
  • Heavy call-dominated flow may leave participants exposed to downside if positions are directional and the underlying stock moves contrary to the net positioning.

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