Sunrun options flow shows strong call dominance at 94.6% of volume

Sunrun's options flow on September 2 showed a strong bullish trend, with call options making up 94.6% of the 94,608 contracts traded by 1:10 PM ET. Sunrun Inc (RUN) closed at $8.81, up 5.26% from the day before. The options activity was concentrated in strikes above the current stock price, indicating a potential move higher. The major bullish calls at $9 and $9.50 suggest traders targeted immediate upside, while the $14 and $19 calls reveal a more speculative, medium-term upside scenario.

Three large November blocks accounted for 50,000 contracts, with open interest already present at $14 and $19 strikes, indicating some activity may involve existing positions. The October $10 call block had relatively low open interest, suggesting new positioning or turnover. The three-month implied volatility fell 1.92 percentage points to 72.20%, but still remained elevated.

The 90/110 skew was essentially neutral, meaning traders were not paying an extreme premium for protection. The September 18 $8 put activity provides a modest bearish counterpoint, sitting about 9.2% below the stock. Near-term signals are bullish, while medium-term signals are cautiously bullish but highly speculative. The call-heavy ratio may exaggerate bullishness, as options flow does not reveal whether contracts were bought or sold.

Confirmation that Sunrun Inc (RUN) holds above $9 and sustains call activity would be needed to determine a likely market target.