Riding the Wave: Wednesday’s Options Surge for CHTR, MU, AMD

Diving into the depths of the market, Charter Communications Inc (CHTR) emerged with a roaring options trading performance this Wednesday. With a total of 23,816 contracts traded so far, representing approximately 2.4 million underlying shares, CHTR saw a staggering surge that amounted to about 135% of its average daily trading volume over the past month. Among these, the $285 strike put option expiring on March 28, 2024, stole the spotlight with 12,092 contracts, signifying approximately 1.2 million underlying shares of CHTR. This flurry of activity paints a vivid picture for investors, mirrored by the chart below illustrating CHTR’s trading history.

Meanwhile, Micron Technology Inc. (MU) sparked a wave of its own in the options market, with a volume of 160,561 contracts traded so far today. This figure, synonymous with approximately 16.1 million underlying shares, accounts for a noteworthy 85.4% of MU’s average daily trading volume over the past month, which stands at 18.8 million shares. Among these dynamic trades, the $100 strike call option expiring on May 17, 2024, was a standout with 7,474 contracts traded, representing roughly 747,400 underlying shares of MU. Witness the ebb and flow of MU’s trading history in the striking chart below.

Last but certainly not least, Advanced Micro Devices Inc (AMD) dazzled traders today with options trading volume reaching 470,530 contracts thus far. Translate this into approximately 47.1 million underlying shares, which constitute a substantial 62.3% of AMD’s average daily trading volume over the past month of 75.6 million shares. The $180 strike call option expiring on March 22, 2024, took center stage with 27,531 contracts traded, reflecting about 2.8 million underlying shares of AMD. Dive into AMD’s historical ebbs and flows with the enlightening chart below.