Bullish option flow detected in ON Semi (ON)conductor with 11,221 calls trading, 2x expected, and implied vol increasing over 6 points to 51.21%. Aug-25 70 calls and Sep-25 44 calls are the most active options, with total volume in those strikes near 7,800 contracts. The Put/Call Ratio is 0.08. Earnings are expected on August 4th.
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