Intriguing Options Trading Insights
Today, the options trading sphere within the components of the Russell 3000 index has been bustling with notable activity. Leading the charge is Netflix Inc (NFLX), with a substantial total volume of 124,744 contracts exchanged so far. This figure translates to about 12.5 million underlying shares, making it an impressive 309.5% surge compared to NFLX’s average daily trading volume over the past month, which stands at 4.0 million shares.
One particular standout amidst this activity is the $550 strike put option set to expire on April 26, 2024, with a significant 8,930 contracts traded today. This amounts to approximately 893,000 underlying NFLX shares. The surge in activity is visually depicted in the chart below, showcasing NFLX’s trailing twelve-month trading history with the $550 strike highlighted in a vivid shade of orange.
Turning our attention to NVIDIA Corp (NVDA), options trading paints an equally compelling picture. The volume has reached an impressive 1.0 million contracts traded today, representing approximately 104.8 million underlying shares. This surge accounts for a substantial 221.1% of NVDA’s average daily trading volume over the past month, which is 47.4 million shares.
The $820 strike call option expiring on April 26, 2024, has especially caught the eye today, with a remarkable 40,884 contracts exchanged. This translates to around 4.1 million underlying shares of NVDA. The surge in activity is visually captured in the chart below, displaying NVDA’s trailing twelve-month trading history with the $820 strike highlighted in vibrant orange hues.
As for Reliance Inc (RS), options trading has seen a volume of 3,742 contracts traded today. This figure represents about 374,200 underlying shares, marking a significant 195.7% increase compared to RS’s average daily trading volume over the past month, which is 191,165 shares.
A noteworthy development today has been the activity around the $300 strike put option expiring on May 17, 2024, with 1,596 contracts exchanged thus far. This represents approximately 159,600 underlying shares of RS. An illustrative chart below reveals RS’s trailing twelve-month trading history, with the $300 strike put option highlighted prominently.
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