Jul. 10 at 10:28 PM
On Holding AG saw options trading surge to 11,550 contracts by 8:01 p.m. Friday, according to Bloomberg data, with activity heavily skewed toward bullish bets as call volume reached 10,326 contracts versus 1,224 puts. The most active contract was the Sept. 18, 2026
$50 call, which traded 6,440 contracts and carried open interest of 5,282, suggesting continued investor positioning. The July 17, 2026
$32.50 call also attracted notable interest, trading 615 contracts with open interest of 1,234 at Thursday's close.
The heightened options activity came as On Holding shares climbed 5.55% to
$38.81 on Friday. At the same time, the company's three-month implied volatility rose 0.68 percentage points to 50.54%, indicating expectations for larger future price swings. The three-month 90/110 skew also increased to 2.74%, reflecting a modest rise in demand for upside call options relative to downside protection.
$ONON