In Wednesday’s unusual options activity, NuScale Power (SMR) saw 1,025 calls and puts traded with Vol/OI ratios ranging from 1.24 to 187.91. Two stocks stood out as potential straddle candidates, each with recognizable household names. Bristol-Myers Squibb (BMY) reported better-than-expected earnings and raised guidance but is expected to remain rangebound. Selling a $48.50 call and put generates a net credit of $215, making it a short straddle opportunity. Bath & Body Works (BBWI) hit its 26th new 52-week low, making it a risky play. With high implied volatility, a long straddle may be the better option.

Read more at Barchart: Two Straddles Define Wednesday’s Unusual Options Activity Across Key Stocks