Weekly Options Flow Report for August 31–September 4, 2026
Published September 6, 2026 · By Profit Builders
This is a historical edition. Read the latest options flow report →
Activity is shown for research and education. A large execution does not identify the trader, establish intent, or predict an outcome. How we classify options activity →
Weekly options flow highlights
Options flow for the week of August 31 through September 4 totaled 92,978 signals and $22.4 billion in premium, with buying activity outpacing selling by roughly three to one (76.5% buy-leaning by dollar premium). Tech names accounted for the largest share of premium at $11.7 billion, followed by ETF-linked flow at $7.3 billion and consumer names at $3.5 billion. QQQ, SPY, MU, SNDK, and TSLA led individual ticker premium for the week. Daily conditions were classified as range-bound from Monday through Thursday, with average VIX readings between roughly 14.7 and 15.8, before Friday's session was classified as trending, alongside the week's lowest average VIX reading. This edition separates gross option premium from estimated remaining (extrinsic) option value across four sections: the largest executions by raw dollar value, the largest executions by estimated remaining option value, single-leg activity meeting predeclared research criteria, and large executions whose value is substantially intrinsic and are shown for size context rather than research interest. This report describes observed listed-options activity only -- see the caveat below for what it does not establish.
- →Buying activity outpaced selling by roughly three to one on a premium basis this week (76.5% buy-leaning), with tech and ETF-linked flow together accounting for over 80% of total premium.
- →The week traded in a range-bound classification Monday through Thursday before shifting to a trending classification on Friday, alongside the week's lowest average VIX reading.
- →The largest gross-premium execution this week was a QQQ December put purchase; the largest execution by estimated remaining option value was the same record, since most of its premium is estimated to be extrinsic rather than intrinsic value.
- →Several of the week's largest gross-premium executions -- including a deep-in-the-money GOOGL LEAPS call and a deep-in-the-money MSTR call -- are estimated to be over 99% intrinsic value and are shown in gross-premium and contextual reporting rather than as research candidates.
Sector options flow breakdown
Options flow by sector for August 31–September 4, 2026 — total observed premium ($22.4B across 92,978 signals) grouped by sector.
| Sector | Premium | Trades |
|---|---|---|
| TECH | $11.7B | 752,744 |
| ETF | $7.3B | 1,860,396 |
| CONSUMER | $3.5B | 409,633 |
| INDEX | $1.5B | 7,905 |
| FINANCE | $1.4B | 18,360 |
| OTHER | $680.7M | 28,417 |
| ENERGY | $664.4M | 7,453 |
| INDUSTRIAL | $322.6M | 6,334 |
| HEALTHCARE | $246.3M | 8,699 |
| TELECOM | $5.8M | 227 |
This Week's Activity
Research-relevant options activity, ranked by estimated remaining option value above intrinsic.
| Symbol | Contract | Structure | Gross Premium | Remaining Value | Why it stands out |
|---|---|---|---|---|---|
| QQQ | $740 Call · Dec 31 | Single-leg | $92.6M | $92.6M | ATM (-3.5%). est. 0% of gross premium is intrinsic value. 122 days to expiration. |
| QQQ | $700 Put · Dec 18 | Single-leg | $41.3M | $41.3M | ATM (-1.2%). est. 0% of gross premium is intrinsic value. 107 days to expiration. |
| GLD | $415 Call · Sep 18 | Single-leg | $38.8M | $38.8M | ATM (-3.4%). est. 0% of gross premium is intrinsic value. 16 days to expiration. |
| QQQ | $700 Call · Dec 31 | Single-leg | $50.1M | $30.1M | ATM (+2.8%). est. 40% of gross premium is intrinsic value. 118 days to expiration. |
| RCL | $270 Put · Dec 18 | Single-leg | $28.4M | $28.4M | ATM (-1.3%). est. 0% of gross premium is intrinsic value. 109 days to expiration. |
| QQQ | $725 Call · Dec 18 | Single-leg | $27.0M | $27.0M | ATM (-2.1%). est. 0% of gross premium is intrinsic value. 108 days to expiration. |
| QQQ | $680 Put · Nov 20 | Single-leg | $25.0M | $25.0M | OTM (-5.1%). est. 0% of gross premium is intrinsic value. 81 days to expiration. |
| SMH | $530 Put · Nov 20 | Single-leg | $24.8M | $24.8M | ATM (-4.2%). est. 0% of gross premium is intrinsic value. 81 days to expiration. |
| SNOW | $340 Call · Jan 15 | Single-leg | $23.8M | $23.8M | ATM (-4.9%). est. 0% of gross premium is intrinsic value. 137 days to expiration. |
| IWM | $290 Put · Sep 11 | Single-leg | $23.2M | $23.2M | ATM (-0.1%). est. 0% of gross premium is intrinsic value. 10 days to expiration. |
Large Premium, Different Context
Large executions shown for size context only -- excluded above because most of their value was already intrinsic, not remaining option value.
GOOGL $5 Call · Jan 15 · 134 DTE
$84.4M gross premium · ~100.1% estimated intrinsic value
Shown for transaction-size context. Its gross premium was almost entirelyintrinsic value, so it is not included among this week's research candidates.
BURL $340 Put · Oct 16 · 43 DTE
$60.0M gross premium · ~99.8% estimated intrinsic value
Shown for transaction-size context. Its gross premium was almost entirelyintrinsic value, so it is not included among this week's research candidates.
LULU $300 Put · Dec 18 · 106 DTE
$59.5M gross premium · ~99.9% estimated intrinsic value
Shown for transaction-size context. Its gross premium was almost entirelyintrinsic value, so it is not included among this week's research candidates.
Full execution data
Largest gross-premium executions
Every execution ranked by raw gross premium, including deep-ITM prints where most of that premium is intrinsic value rather than remaining option value.
| Contract | Timestamp | Spot | Strike / Exp. | DTE | Gross Premium | Moneyness | Flags | Note |
|---|---|---|---|---|---|---|---|---|
| QQQ P | Aug 31, 11:29 AM | $714.74 | $715 / 2026-12-31 | 122 | $113.5M | ATM (+0.0%) | Non-directional structure | ATM (+0.0%). est. 1% of gross premium is intrinsic value. 122 days to expiration. |
| QQQ C | Aug 31, 11:29 AM | $714.74 | $740 / 2026-12-31 | 122 | $92.6M | ATM (-3.5%) | Single-leg | ATM (-3.5%). est. 0% of gross premium is intrinsic value. 122 days to expiration. |
| GOOGL C | Sep 3, 1:42 PM | $342.76 | $5 / 2027-01-15 | 134 | $84.4M | DEEP_ITM (+98.5%) | Deep ITMHigh intrinsicLow extrinsicSingle-leg | DEEP_ITM (+98.5%). est. 100% of gross premium is intrinsic value. 134 days to expiration. |
| BURL P | Sep 3, 2:40 PM | $256.30 | $340 / 2026-10-16 | 43 | $60.0M | DEEP_ITM (+32.7%) | Deep ITMHigh intrinsicLow extrinsicSingle-leg | DEEP_ITM (+32.7%). est. 100% of gross premium is intrinsic value. 43 days to expiration. |
| LULU P | Sep 3, 3:29 PM | $121.84 | $300 / 2026-12-18 | 106 | $59.5M | DEEP_ITM (+146.2%) | Deep ITMHigh intrinsicLow extrinsicSingle-leg | DEEP_ITM (+146.2%). est. 100% of gross premium is intrinsic value. 106 days to expiration. |
| MSTR C | Sep 4, 3:58 PM | $142.94 | $40 / 2026-09-04 | 0 | $58.8M | DEEP_ITM (+72.0%) | Deep ITMHigh intrinsic0DTELow extrinsicSingle-leg | DEEP_ITM (+72.0%). est. 100% of gross premium is intrinsic value. 0 days to expiration. |
| MSTR C | Sep 4, 3:58 PM | $142.94 | $45 / 2026-09-11 | 7 | $56.3M | DEEP_ITM (+68.5%) | Deep ITMHigh intrinsicLow extrinsicSingle-leg | DEEP_ITM (+68.5%). est. 100% of gross premium is intrinsic value. 7 days to expiration. |
| MSFT C | Sep 3, 12:08 PM | $513.38 | $420 / 2026-11-20 | 78 | $51.1M | ITM (+18.2%) | High intrinsicLow extrinsicSingle-leg | ITM (+18.2%). est. 91% of gross premium is intrinsic value. 78 days to expiration. |
| QQQ C | Sep 4, 10:19 AM | $720.00 | $700 / 2026-12-31 | 118 | $50.1M | ATM (+2.8%) | Single-leg | ATM (+2.8%). est. 40% of gross premium is intrinsic value. 118 days to expiration. |
| LULU P | Sep 3, 2:28 PM | $119.86 | $300 / 2026-12-18 | 106 | $48.8M | DEEP_ITM (+150.3%) | Deep ITMHigh intrinsicLow extrinsicSingle-leg | DEEP_ITM (+150.3%). est. 100% of gross premium is intrinsic value. 106 days to expiration. |
| SPCX P | Sep 1, 2:41 PM | $143.38 | $205 / 2026-09-18 | 17 | $48.7M | DEEP_ITM (+43.0%) | Deep ITMHigh intrinsicLow extrinsicSingle-leg | DEEP_ITM (+43.0%). est. 100% of gross premium is intrinsic value. 17 days to expiration. |
| LULU P | Sep 3, 2:28 PM | $119.86 | $350 / 2026-12-18 | 106 | $48.5M | DEEP_ITM (+192.0%) | Deep ITMHigh intrinsicLow extrinsicSingle-leg | DEEP_ITM (+192.0%). est. 100% of gross premium is intrinsic value. 106 days to expiration. |
| TSM C | Sep 4, 2:13 PM | $427.52 | $380 / 2026-11-20 | 77 | $44.6M | ITM (+11.1%) | Single-leg | ITM (+11.1%). est. 80% of gross premium is intrinsic value. 77 days to expiration. |
| LULU P | Sep 3, 3:29 PM | $121.84 | $350 / 2026-12-18 | 106 | $43.6M | DEEP_ITM (+187.3%) | Deep ITMHigh intrinsicLow extrinsicSingle-leg | DEEP_ITM (+187.3%). est. 100% of gross premium is intrinsic value. 106 days to expiration. |
| QQQ P | Sep 2, 2:18 PM | $708.33 | $700 / 2026-12-18 | 107 | $41.3M | ATM (-1.2%) | Single-leg | ATM (-1.2%). est. 0% of gross premium is intrinsic value. 107 days to expiration. |
Largest estimated remaining-risk-premium executions
Every execution ranked by estimated remaining (extrinsic) value above intrinsic at the reference price.
| Contract | Timestamp | Spot | Strike / Exp. | DTE | Est. Remaining Premium | Moneyness | Flags | Note |
|---|---|---|---|---|---|---|---|---|
| QQQ P | Aug 31, 11:29 AM | $714.74 | $715 / 2026-12-31 | 122 | $112.5M | ATM (+0.0%) | Non-directional structure | ATM (+0.0%). est. 1% of gross premium is intrinsic value. 122 days to expiration. |
| QQQ C | Aug 31, 11:29 AM | $714.74 | $740 / 2026-12-31 | 122 | $92.6M | ATM (-3.5%) | Single-leg | ATM (-3.5%). est. 0% of gross premium is intrinsic value. 122 days to expiration. |
| QQQ P | Sep 2, 2:18 PM | $708.33 | $700 / 2026-12-18 | 107 | $41.3M | ATM (-1.2%) | Single-leg | ATM (-1.2%). est. 0% of gross premium is intrinsic value. 107 days to expiration. |
| NDX C | Aug 31, 4:00 PM | $29370.82 | $29650 / 2026-09-18 | 18 | $40.2M | ATM (-1.0%) | Multi-leg | ATM (-1.0%). est. 0% of gross premium is intrinsic value. 18 days to expiration. |
| GLD C | Sep 2, 9:53 AM | $401.17 | $415 / 2026-09-18 | 16 | $38.8M | ATM (-3.4%) | Single-leg | ATM (-3.4%). est. 0% of gross premium is intrinsic value. 16 days to expiration. |
| QQQ C | Sep 4, 10:19 AM | $720.00 | $700 / 2026-12-31 | 118 | $30.1M | ATM (+2.8%) | Single-leg | ATM (+2.8%). est. 40% of gross premium is intrinsic value. 118 days to expiration. |
| RCL P | Aug 31, 11:04 AM | $273.52 | $270 / 2026-12-18 | 109 | $28.4M | ATM (-1.3%) | Single-leg | ATM (-1.3%). est. 0% of gross premium is intrinsic value. 109 days to expiration. |
| QQQ C | Sep 1, 11:03 AM | $709.81 | $725 / 2026-12-18 | 108 | $27.0M | ATM (-2.1%) | Single-leg | ATM (-2.1%). est. 0% of gross premium is intrinsic value. 108 days to expiration. |
| IWM P | Sep 1, 2:40 PM | $290.41 | $285 / 2026-09-11 | 10 | $26.9M | ATM (-1.9%) | Multi-leg | ATM (-1.9%). est. 0% of gross premium is intrinsic value. 10 days to expiration. |
| QQQ P | Aug 31, 3:51 PM | $716.90 | $680 / 2026-11-20 | 81 | $25.0M | OTM (-5.1%) | Single-leg | OTM (-5.1%). est. 0% of gross premium is intrinsic value. 81 days to expiration. |
| SMH P | Aug 31, 12:10 PM | $553.42 | $530 / 2026-11-20 | 81 | $24.8M | ATM (-4.2%) | Single-leg | ATM (-4.2%). est. 0% of gross premium is intrinsic value. 81 days to expiration. |
| SNOW C | Aug 31, 10:24 AM | $324.03 | $340 / 2027-01-15 | 137 | $23.8M | ATM (-4.9%) | Single-leg | ATM (-4.9%). est. 0% of gross premium is intrinsic value. 137 days to expiration. |
| IWM P | Sep 1, 2:40 PM | $290.41 | $290 / 2026-09-11 | 10 | $23.2M | ATM (-0.1%) | Single-leg | ATM (-0.1%). est. 0% of gross premium is intrinsic value. 10 days to expiration. |
| GE P | Sep 4, 12:35 PM | $334.28 | $340 / 2026-12-18 | 105 | $21.9M | ATM (+1.7%) | Single-leg | ATM (+1.7%). est. 24% of gross premium is intrinsic value. 105 days to expiration. |
| QQQ P | Sep 1, 10:57 AM | $709.99 | $690 / 2026-09-25 | 24 | $20.3M | ATM (-2.8%) | Single-leg | ATM (-2.8%). est. 0% of gross premium is intrinsic value. 24 days to expiration. |
Notable options sweeps this week
The largest sweep orders — trades filled aggressively across multiple exchanges at once, a signal of urgency. See Sweep vs Block vs Dark Pool for how to read them.
| Symbol | Strike | Type | Premium | Fills | Exchanges | Direction |
|---|---|---|---|---|---|---|
| SMH | $530 | put | $23.4M | 18 | 1 | AGGRESSIVE_BUY |
| QQQ | $690 | put | $16.3M | 4 | 2 | NEUTRAL |
| SMH | $550 | put | $15.6M | 18 | 1 | NEUTRAL |
| SPY | $760 | put | $10.5M | 11 | 4 | AGGRESSIVE_BUY |
| GLD | $250 | call | $5.0M | 4 | 1 | NEUTRAL |
Week-over-week options activity changes
Symbols whose weekly premium moved sharply against their trailing four-week baseline — the clearest read on unusual options activity this week versus a typical week for that name.
| Symbol | This week | 4-week avg | Multiple | New to tape? |
|---|---|---|---|---|
| MCD | $259.0M | $5.2M | 50× | No |
| BURL | $271.4M | $8.1M | 33.6× | No |
| SLB | $64.1M | $3.1M | 20.7× | No |
| LMT | $58.6M | $4.2M | 14.1× | No |
| HAL | $17.4M | $1.6M | 10.8× | No |
| GS | $446.3M | $47.9M | 9.3× | No |
| RCL | $46.8M | $5.6M | 8.4× | No |
| NKE | $118.6M | $16.9M | 7× | No |
| NOC | $7.9M | $1.3M | 6.2× | No |
| PATH | $15.8M | $2.6M | 6× | No |
Methodology and data limits
How we classify activity
Signals are built from the same signal-classification pipeline and conviction grading (QUALIFIED / PASS) used across Profit Builders' live scanner, covering 2026-08-31 through 2026-09-04.
Why gross premium differs from remaining option value
Gross premium is the total reported value paid for a contract. In deeply in-the-money or near-expiry contracts, much of that value is intrinsic (the contract's in-the-money amount) rather than remaining option value. Estimated remaining-risk premium is gross premium minus estimated intrinsic value -- shown so a large print dominated by intrinsic value isn't mistaken for a large amount of remaining option risk. Neither figure measures conviction, expected return, or trader intent.
Moneyness / intrinsic-value definitions
Moneyness is the contract's strike relative to the reference spot price at execution time. Deep ITM, ITM, ATM, and OTM bands and the intrinsic/extrinsic split are calculated per contract and shown on every execution in the full data table below.
Data source and timing
Data coverage: 2026-08-31 to 2026-09-04. Generated Sep 6, 2:47 PM.
Known limitations
This report summarizes observed listed-options executions using stated filters and calculations. Execution classification, bid/ask proximity, contract size, premium, open interest, and moneyness do not identify a trader, prove opening versus closing status, establish directional intent, or predict an outcome. Large gross premium can be dominated by intrinsic value in deeply in-the-money or near-expiry contracts. This report is for research and education, not a recommendation to buy or sell any security.
Read the full Profit Builders methodology →
schema v2 · calculation WEEKLY_REPORT_V2_0 · eligibility config WEEKLY_REPORT_V2_0
See how Profit Builders classifies unusual options flow and monitors contract-level activity in the live scanner — the same engine behind this report.