Core Insights - ON Holdings (ON) has experienced unusual options activity, with a notable decline in options volume by 32.14% compared to the one-month trailing average, totaling 10,645 contracts [1] - The sentiment in options trading has shifted towards bearish, with net trade sentiment falling to $208,900 below parity, indicating that most calls were sold rather than bought [2] - Institutional traders are predominantly selling calls, which raises concerns about market confidence in ON stock, further compounded by a technical analysis indicating a 100% Strong Sell rating [3] Analyst Ratings - Despite the bearish sentiment in options trading, Wall Street analysts maintain a consensus rating of Strong Buy for ON stock, with a 12-month price target of $64.41, suggesting a potential upside of nearly 54% [4] Pricing Models - The Black-Scholes-Merton (BSM) model is mentioned as a tool for estimating the fair value of options, but its use as a predictive model is questioned, highlighting the challenges in determining future price movements [4][5]

Group 1 - Verizon and AST SpaceMobile announced a landmark commercial deal to provide space-based cellular broadband service across the continental U.S. by 2026 [1] - Following the announcement, ASTS stock increased by 8.63% on the day and nearly 39% over the trailing week, while VZ stock fell more than 5% in the trailing five sessions [2] - The options market may present better short-term upside opportunities for VZ stock compared to ASTS [3] Group 2 - The Black-Scholes-Merton model is referenced as a framework for determining the theoretical "fair value" of derivative contracts, which can be applied to analyze VZ stock [7]