Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in McDonald's Corp (NYSE:MCD), where a total volume of 13,688 contracts has been traded thus far today, a contract volume which is representative of approximately 1.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 45.4% of MCD's average daily trading volume over the past month, of 3.0 million shares. Especially high volume was seen for the $195 strike call option expiring August 21, 2020, with 1,302 contracts trading so far today, representing approximately 130,200 underlying shares of MCD. Below is a chart showing MCD's trailing twelve month trading history, with the $195 strike highlighted in orange:
Biogen Inc (NASDAQ:BIIB) options are showing a volume of 5,663 contracts thus far today. That number of contracts represents approximately 566,300 underlying shares, working out to a sizeable 45.4% of BIIB's average daily trading volume over the past month, of 1.2 million shares.
Especially high volume was seen for the $265 strike put option expiring September 18, 2020, with 378 contracts trading so far today, representing approximately 37,800 underlying shares of BIIB. Below is a chart showing BIIB's trailing twelve month trading history, with the $265 strike highlighted in orange:
And Yum! Brands Inc (NYSE:YUM) options are showing a volume of 7,295 contracts thus far today. That number of contracts represents approximately 729,500 underlying shares, working out to a sizeable 44.3% of YUM's average daily trading volume over the past month, of 1.6 million shares.
Particularly high volume was seen for the $105 strike call option expiring January 15, 2021, with 2,501 contracts trading so far today, representing approximately 250,100 underlying shares of YUM. Below is a chart showing YUM's trailing twelve month trading history, with the $105 strike highlighted in orange:
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