LITE options: estimated premium turnover $73M; largest line LITE261218C00790000 $6M (expires 2026-12-18)LITE 期权异动：所扫描合约成交权利金估算约 $73M；最大合约 LITE261218C00790000 约 $6M（2026-12-18 到期）
Options Flow Snapshot
On August 20, 2026, Lumentum Holdings (ticker LITE) saw notable options trading activity. The underlying stock traded at $827.60 that day, with total options volume of 20,216 contracts for the near-term expiration (August 21, 2026), and estimated scanned contract premium turnover of $73,054,230, equal to 2.1% of the underlying stock’s daily dollar volume. Call volume totaled 10,853 contracts, put volume 9,363 contracts, for a call/put volume ratio of 1.16. The largest active contract was LITE261218C00790000: a call option with $790 strike, expiring December 18, 2026, with 321 contracts traded and estimated $6 million in scanned premium turnover. The near-term at-the-money (ATM) straddle implied a 5.4% price move for the underlying, with average near-the-money call IV at 80.7% and put IV at 88.4%, creating a 7.7 percentage point put/call IV skew.
Signal Read-Through
This is a concentrated trading signal with downside skew: overall options volume and premium turnover are elevated, with a large single call position concentrated at a distant strike price, paired with higher put IV than call IV. This indicates market participants are pricing in significant downside risk alongside large call option positioning.
Fundamental and Event Cross-Check
Three independent public data points validate this signal: first, Form 4 insider transaction filings dated August 18, 2026, show three executives executed equity awards, in-kind share transfers, and a small share sale, with executive Retort Vincent selling 3,183 shares for ~$2.89 million; second, the company’s Q2 2026 earnings report (August 11, 2026) beat analyst estimates, with EPS of $3.23 vs. consensus $2.97 and revenue of $1.006B vs. consensus $987.7M; third, 13F filings as of December 31, 2025, show 793 institutional holders, an increase of 150 from prior periods.
Follow-Up Markers
This signal does not confirm actual short-term capital flows or a definitive price direction. Next items to watch include changes in near-term options open interest ahead of the August 21, 2026 expiration, whether the underlying stock moves to match the 5.4% implied volatility range, and subsequent public corporate or industry updates.
期权成交结构
2026年8月20日，Lumentum Holdings（股票代码LITE）的期权市场出现显著成交活动。当日标的股票价格为827.60美元，近月到期（2026年8月21日）的期权总成交量达20216张合约，估算所扫描合约权利金成交额约7305万美元，占当日标的股票成交额的2.1%。其中看涨期权成交量10853张、看跌期权9363张，看涨看跌成交量比为1.16。最大单笔活跃合约为LITE261218C00790000，行权价790美元，2026年12月18日到期，成交量321张，估算所扫描合约权利金成交额约600万美元。近月平值跨式期权隐含波动对应标的5.4%的价格波动，平值看涨期权平均隐含波动率80.7%，看跌期权平均隐含波动率88.4%，看跌看涨隐含波动率价差达7.7个百分点。
信号含义
该信号属于带有下行偏度的成交集中信号：整体期权成交规模显著，最大单笔看涨期权持仓集中在远期行权价，同时看跌隐含波动率高于看涨波动率，显示市场参与者对标的未来价格波动存在明确的下行风险定价，同时存在大额看涨期权的建仓痕迹。
基本面与事件交叉验证
本次信号可交叉验证三项独立公开数据：其一，2026年8月18日披露的Form 4内幕交易文件显示，三位高管进行了股权激励授予、实物股份划转及少量减持操作，其中高管Retort Vincent减持约3183股，套现约289万美元；其二，公司2026年8月11日公布的二季度财报超出市场预期，EPS为3.23美元（高于预期2.97美元），营收10.06亿美元（高于预期9.88亿美元）；其三，截至2025年12月31日的13F文件显示，机构持仓总数达793家，较此前增加150家。
后续关注
该信号未证明实际的短期资金流向或确定的价格变动方向，后续需关注2026年8月21日近月期权到期前的持仓变化、标的价格是否触及隐含波动对应的5.4%价格区间，以及后续公司运营或行业相关的公开信息。
This analysis was generated by InvestLog AI based on SEC filings, Form 4 insider transactions, Form 144 planned-sale notices, 13F institutional holdings, analyst ratings, and market data. It is for informational purposes only and does not constitute investment advice.这篇研究由 InvestLog AI 基于 SEC 披露、Form 4 内部人交易、Form 144 计划减持、13F 机构持仓、分析师评级和市场数据生成。内容仅供参考，不构成投资建议。