Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in American Express Co. (NYSE:AXP), where a total volume of 20,636 contracts has been traded thus far today, a contract volume which is representative of approximately 2.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 51.5% of AXP's average daily trading volume over the past month, of 4.0 million shares. Particularly high volume was seen for the $110 strike call option expiring October 16, 2020, with 1,473 contracts trading so far today, representing approximately 147,300 underlying shares of AXP. Below is a chart showing AXP's trailing twelve month trading history, with the $110 strike highlighted in orange:
The Gap Inc (NYSE:GPS) saw options trading volume of 46,219 contracts, representing approximately 4.6 million underlying shares or approximately 42.8% of GPS's average daily trading volume over the past month, of 10.8 million shares.
Especially high volume was seen for the $16 strike put option expiring October 16, 2020, with 15,056 contracts trading so far today, representing approximately 1.5 million underlying shares of GPS. Below is a chart showing GPS's trailing twelve month trading history, with the $16 strike highlighted in orange:
And Visa Inc (NYSE:V) options are showing a volume of 36,602 contracts thus far today. That number of contracts represents approximately 3.7 million underlying shares, working out to a sizeable 42.7% of V's average daily trading volume over the past month, of 8.6 million shares.
Especially high volume was seen for the $210 strike call option expiring January 15, 2021, with 2,919 contracts trading so far today, representing approximately 291,900 underlying shares of V. Below is a chart showing V's trailing twelve month trading history, with the $210 strike highlighted in orange:
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