GXO Logistics (GXO) healthy consolidation under multi-month highs sees unusual 1925 November $55 calls buying $2.10 to $2.40 as IV jumps, set to report 11-4. GXO already has 2250 Dec. $60 calls and 1200 Jan. $52.5 calls bought in OI. GXO has been previously mentioned as a potential takeover candidate, and reports from late 2024 indicated GXO was evaluating strategic alternatives, including a possible sale, after receiving interest from prospective buyers; while no deal emerged from these talks at that time, GXO’s strong operational performance and rising share price have kept speculation alive. Action is interesting ahead of UPS and other industry peer earnings next week. Goldman cites contract wins and Wincanton revenue synergies as near-term tailwinds and advances in warehouse automation and robotics in the medium-term.