Notable Thursday Option Activity: MSFT, BKH, NN

Heavy options activity was recorded May 14, 2026 in Microsoft (MSFT), Black Hills Corp (BKH) and NextNav (NN), with unusually large call volumes that may reflect concentrated bullish positioning or large directional trades. MSFT led the pack with 641,415 contracts (~64.1 million shares), about 182.5% of its one‑month average daily volume; the May 15, 2026 $415 call alone traded 55,566 contracts (~5.6 million shares). BKH saw 14,791 contracts (~1.5 million shares), ~178.9% of its average daily volume, led by 7,200 contracts in the May 15 $65 call. NN had 59,726 contracts (~6.0 million shares), ~173.8% of its average daily volume, including 30,639 contracts in the Aug 21, 2026 $30 call. These outsized option flows could influence near‑term underlying liquidity and reflect concentrated speculative or hedging activity, but the report is descriptive rather than interpretive.