Meta Options Volume Soars as Bullish Bets Pile Up on AI Optimism

A surge in optimism surrounding Meta Platforms' (META) artificial intelligence initiatives sent its stock soaring on Monday, triggering a massive wave of activity in the options market. The trading volume was heavily skewed towards bullish call options, signaling strong conviction from traders that the rally may have further to run.

Meta shares climbed +11.64% to $742.69 during the session, according to market data from Sep 21, 2026. The move was reportedly driven by anticipation for the company's "Muse" agentic AI, a price target increase to $796 from Wells Fargo, and news of a new subsea cable ahead of the Meta Connect event on Sep 23.

Unpacking the Options Flow

The heightened investor interest was clearly reflected in the derivatives market, where total options volume reached 1.83 million contracts by early afternoon.

• Call Dominance: Call options, which are bets on a stock's price rising, significantly outpaced puts. Total volume consisted of 1.19 million calls versus 647,060 puts.
• Bullish Ratio: This activity resulted in a call-to-put ratio of 1.84-to-1, a firm indicator of bullish sentiment among short-term traders.

Notably, the put volume was its highest since January 15, 2026. On a day with a double-digit stock price gain, this activity is widely interpreted not as a bearish signal, but as institutional investors hedging existing long positions or locking in recent profits.

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Near-Term Targets and Volatility Signals

Traders appeared to be positioning for continued gains in the near term, with significant activity concentrated in the October 16 expiration contracts. A cluster of new positions was opened at out-of-the-money strike prices including $765, $775, and $800, suggesting a segment of the market is targeting a move toward the $800 level before mid-October.

Perhaps the most telling indicator was the market's volatility pricing. A measure known as skew, which compares the price of bullish calls to bearish puts, turned negative. This is an unusual market structure that indicates the demand to participate in a potential rally (by buying calls) has outstripped the demand for downside protection (buying puts), signaling a strong fear of missing out on further upside.

Long-Term Bets Emerge

Beyond the short-term positioning, some traders placed significant long-shot bets on a transformative outcome from Meta's AI developments. The January 15, 2027, $1,430 strike call saw tens of thousands of contracts traded. This strike price, which sits approximately 93% above Monday's closing price, represents a conviction that the company's value could nearly double in the coming months, likely tied to the successful monetization of its AI platforms.