Noteworthy Wednesday Option Activity: TSLA, COST, NFLX

Among the underlying components of the Russell 3000 index, there has been significant activity in the options market. Notably, Tesla Inc., Costco Wholesale Corp, and Netflix Inc. are drawing attention with remarkable trading volumes.

Tesla Inc (TSLA) has seen a surge in options trading today, with around 1.2 million contracts traded, equivalent to roughly 122.9 million underlying shares. This accounts for an impressive 158.2% of TSLA’s average daily trading volume over the last month. The $225 strike call option expiring on September 13, 2024, has been particularly active, with 89,997 contracts traded – representing approximately 9.0 million shares of TSLA.

Costco Wholesale Corp (COST) is not far behind, with options trading volume hitting 25,134 contracts, indicating approximately 2.5 million underlying shares. This represents about 154% of COST’s average daily trading volume over the past month. The $890 strike call option expiring on September 13, 2024, stands out with 1,323 contracts traded so far – equivalent to approximately 132,300 underlying shares of COST.

Meanwhile, Netflix Inc (NFLX) is showing substantial options volume today, with 42,285 contracts traded, translating to about 4.2 million underlying shares. This is a notable 152.6% of NFLX’s average daily trading volume over the previous month. The $600 strike put option expiring on September 20, 2024, has attracted significant interest, with 3,134 contracts traded – representing approximately 313,400 underlying shares of NFLX.