Meta closed at $742.96, up 3.38%.

Meta’s options market showed notable institutional activity, highlighted by a $17.02 million deep in-the-money call purchase and a $14.96 million out-of-the-money call sale, both tied to the December 2026 expiration. While the long-dated call buy signals strong long-term bullish conviction, the large call sale at a higher strike suggests some participants expect gains to remain capped below $815.00 into that expiry.

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Options Indicators

Meta’s implied volatility stands at 45.86%, and with an IV percentile of 86.85%, current option volatility is in an elevated range, indicating that options are priced expensively relative to the stock’s recent history. The IV/HV ratio of 0.89 suggests implied volatility is running slightly below realized volatility, but the high percentile still shows that current premiums sit on the richer side versus their own historical distribution. The Call/Put volume ratio is 1.74.

Large Trades

A call purchase worth $17.02 million was the largest displayed trade, with 1,800 META $680.00 calls bought for the 2026-12-18 expiration. With Meta referenced at $744.89, this strike is in the money, making the trade a clearly bullish position that combines intrinsic value with long-dated upside exposure. The buyer is positioning for sustained strength over a long horizon, and the use of deep time value suggests confidence in continued appreciation rather than a short-term tactical punt.

A call sale worth $14.96 million was the other highlighted block, with 5,400 META $815.00 calls sold for the 2026-12-18 expiration. Given the current stock reference, this strike is out of the money, so the seller is expressing a more cautious to bearish stance at higher levels, likely monetizing premium against the view that upside may be capped below $815.00 into expiration. While this trade leans bearish on a standalone basis, the broader large-order flow still tilts bullish overall, as the bulk activity shows stronger call-buying interest and supportive premium selling on the put side. Taken together, the figures point to a moderately bullish institutional tone: investors appear constructive on Meta’s medium- to long-term trajectory, even as some participants are willing to sell upside calls to fade more aggressive rally expectations.

Strategy Reference

For traders seeking a lower assignment probability on a short call, selling the $850.00 strike for December 2026 offers a wider cushion above the $815.00 resistance implied by the large call sale, while a bull call spread using the $680.00 and $815.00 strikes can express long-term upside with reduced upfront margin versus a naked long call.