Iovance options run 4.7 times normal, 52,263 calls to 27,831 puts, as a revenue guidance raise lifts the stock 34%

The most unusual options activity in Tuesday's session came from Iovance Biotherapeutics (IOVA). By early afternoon traders had exchanged 80,094 Iovance option contracts, 4.67 times the stock's 10-day average, with 52,263 calls against 27,831 puts, or about 1.9 calls for every put. The shares were up $3.73, or 33.9%, at $14.72 at 3:40 p.m., according to Nasdaq, after trading as high as $15.30.

What was behind it

Unlike many days on this list, the cause is on the record. Before the open, Iovance raised its full-year 2026 revenue forecast to $410 million to $420 million from $350 million to $370 million, citing U.S. demand for its melanoma cell therapy Amtagvi and the drug Proleukin. The company's 8-K filing puts the increase at $55 million at the midpoint and says the new range implies nearly 60% annual growth. We worked through what that range asks of the next two quarters in our story on the raise: roughly $120 million to $125 million a quarter, against a record $99.3 million in the second quarter.

The numbers behind the options volume

The options were small next to the stock itself. The 27,831 puts cover about 2.8 million shares and the calls about 5.2 million, while roughly 58 million Iovance shares had traded by the time the feed was taken, so the options touched a share count equal to about 14% of the day's stock volume. On many single-stock options days that ratio is far higher. Here, the stock market did most of the work.

Total premium came to about $16.3 million, an average of roughly $204 a contract, which is consistent with a lot of low-priced contracts on a stock that started the day near $11. The feed does not split premium between puts and calls, and it does not tell us whether contracts were opened or closed. A share of the call volume may be traders closing positions after the jump, and a share of the puts may be holders protecting a 34% one-day gain.

The detail that stands out is the price of the options. Iovance's 30-day implied volatility was about 109%, at the very top of its one-year range on the feed's ranking. Options were the most expensive they have been in a year on the day the company removed much of the uncertainty about its 2026 revenue. That is partly the size of the move itself, and partly the next report: Iovance says third-quarter results come in early November, and the feed lists November 5, a date the company has not confirmed. After its last four reports, the stock moved +27.6%, +30.8%, -13.2% and +43.1% the next day, an average of about 28.7% either way.

The rest of the list

Stock moves are as of the feed, taken at 1:57 p.m. Eastern.

Bloom Energy drew the most money: about $292.6 million in premium, or roughly $1,247 a contract, with 125,927 calls and 108,727 puts as the stock rose 11.2% to about $292. Its implied volatility ranked near the top of its one-year range. We found no company release or news report explaining Tuesday's move. Vodafone was the most lopsided name on the list, 25,336 calls against 91 puts, about 278 calls for every put, on a stock that slipped about 2%, and we found no news behind that either. Oracle rose 3.9% on 2.5 times its usual options volume; our earlier coverage of its New Mexico data center setback has the background.

Congressional trades

Rep. Nancy Pelosi disclosed two Bloom Energy stock purchases, according to TipRanks: one of $1,000,001 to $5,000,000 on July 23 and one of $500,001 to $1,000,000 on July 27, both reported on August 24. Those disclosures lag the trades by up to 45 days and say nothing about Tuesday's options. See all filings on our congressional trades tracker. Iovance's filings are on SEC EDGAR.

Sources: options volume, implied volatility and market data via Robinhood; congressional trades via TipRanks (STOCK Act disclosures); filings via SEC EDGAR; Iovance Biotherapeutics 8-K of Sept. 29, 2026; Nasdaq market data. Some data may be delayed. This is market information, not investment advice.