Tempus AI closed at USD 68.73, up 3.87%.

Large options trades in TEM tilted bearish. A $1.06 million call sale at the $100.00 strike stood out, while a $161 thousand put purchase at the $50.00 strike added to the cautious tone. Both trades were out of the money, but the combination of capped-upside selling and protective put buying suggests institutions see limited upside and meaningful downside risk over the relevant option horizons.

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Options Indicators

TEM’s implied volatility is 82.33%, and with an IV percentile of 73.31%, current option volatility sits in the elevated range, indicating that options are priced expensively relative to the stock’s recent volatility backdrop. The IV/HV ratio of 0.75 suggests implied volatility is running below historical volatility, but overall pricing still reflects a rich premium environment versus its own percentile history, so option buyers are paying up for exposure while premium-selling or defined-risk spread structures may be more efficient from a cost perspective. The Call/Put volume ratio is 2.64.

Large Trades

A call sale worth $1.06 million was the largest large trade, with 1,800 contracts of the January 15, 2027 $100.00 call sold while the stock reference price was $68.73. This strike sits out of the money, and the trade reflects a bearish-to-neutral income-oriented stance, as the seller is effectively expressing the view that TEM is unlikely to rally above $100.00 by expiration while seeking to collect option premium.

A put purchase worth $161 thousand was the other notable large trade, consisting of 3,500 contracts of the September 18, 2026 $50.00 put bought with the stock at $68.73. This put was also out of the money, and the trade carries a bearish tone because the buyer is positioning for downside into expiration or using the contracts as protective hedging against a meaningful decline toward or below the $50.00 level. Overall, the large-trade flow in TEM was clearly bearish, with both highlighted orders aligned to downside or capped-upside expectations; taken together, the block activity suggests cautious sentiment and limited conviction in substantial upside over the relevant option horizons.

Strategy Reference

For a low assignment probability, a seller could consider the January 15, 2027 $100.00 call, though premium may be limited; alternatively, a bear call spread using the $90.00/$100.00 strikes reduces margin while still expressing a capped-upside view.