Options Market Round Up Friday April 17, 2026
Flow Analysis | Rhodie House Options Intelligence | April 18, 2026
Friday was not a normal session. In the morning Iran declared the Strait of Hormuz “completely open,” US-Iran negotiations moved toward a formal agreement, and oil prices tumbled more than 11% in a single day. The S&P 500 and Nasdaq hit record highs. The Nasdaq logged its 13th consecutive advance - its longest winning streak since 1992. Against that backdrop, institutional flow was running hard into a specific set of names.
Here were Friday’s Top Bullish Names across all Tiers:
Here were Friday’s Top Bullish Names Across the Mid-Cap Tier:
Here are some names of interest from Friday.
TeraWulf (WULF)
TeraWulf closed a $900 million equity raise on April 16th, with proceeds earmarked for a new hyperscale data center campus in Kentucky. The capital raise removed the funding uncertainty and the buildout is now fully financed. Bullish flow the following day was the options market endorsing the execution, not speculating on whether it would happen.
Notable flow in January 2027 25 Calls and Jul 2026 26 Calls
Cipher Digital (CIFR)
Formerly Cipher Mining - the rebrand signals the pivot. On Friday, the company announced a 15-year hyperscale AI/HPC lease with an investment-grade tenant, its third data center campus, alongside a $200 million credit facility. CIFR is no longer a Bitcoin miner with a data center side project. The flow reflects that rerating.
Notable flow in January 2027 20 Calls and September 2026 20 Calls
Century Aluminum (CENX)
On April 16th, Century commenced expanded production at its Mt. Holly smelter in South Carolina, adding 10% to total US primary aluminum output at a moment when a 50% tariff on imported aluminum has effectively closed the domestic market to foreign competition. A new greenfield smelter joint venture in Oklahoma would be the first primary aluminum facility built in the US in nearly 50 years. The flow here was sector-specific and not connected to the AI theme but the conviction was identical in size and structure.
Notable flow in some June 2026 Complex Call Spreads directionally bullish. Particularly as it relates to complex spreads, I will want to check OI on Monday but all other validation has been positive so far.
The Thread That Connects Them
What makes these names particularly notable is that each names scored in the upper tier on flow, technical analysis, the relevant sector analysis, and the macro backdrop. The options flow and the quantitative signals were pointing in the same direction simultaneously. When that happens, it is worth paying attention…..
What I Am Not Publishing Here
Alongside these three names, Friday’s session included flow in several tickers that was highly unusual. We are keeping those names within the Discord. If you want to see what the smart money is doing in the names that rarely trade institutional size, that is where to find it. Similarly, if you want to see the flow going into the names mentioned above in real time, then the Discord is also where to see it.
