Chewy Surges to 376th in Trading Volume Amid Buys Frenzy as Call Options Skyrocket 8x Expected Volume

On August 22, 2025, Chewy (CHWY) recorded a trading volume of $290 million, marking a 41.48% increase from the previous day and ranking it 376th among active stocks. The stock closed down 1.42% despite elevated call option activity.

Market data showed unusually high bullish sentiment, with 52,505 call options traded—8x the expected volume—and implied volatility rising over 3 points to 59.96%. The most actively traded options included the August 22 weekly 41.5 calls and August 29 weekly 43 calls, collectively accounting for nearly 18,800 contracts. The Put/Call Ratio fell to 0.22, indicating strong investor confidence ahead of its September 10 earnings report.

A strategy based on purchasing the top 500 stocks by daily trading volume and holding for one day yielded a total profit of $2,253.88 between December 2022 and August 2025. The approach experienced a maximum drawdown of -$1,025.71 during the period, with a Sharpe ratio of 1.47, reflecting favorable risk-adjusted returns.