Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Innoviva Inc (NASDAQ:INVA), where a total volume of 11,378 contracts has been traded thus far today, a contract volume which is representative of approximately 1.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 126.4% of INVA's average daily trading volume over the past month, of 900,450 shares. Especially high volume was seen for the $12 strike call option expiring September 18, 2020, with 5,027 contracts trading so far today, representing approximately 502,700 underlying shares of INVA. Below is a chart showing INVA's trailing twelve month trading history, with the $12 strike highlighted in orange:
Matador Resources Co (NYSE:MTDR) options are showing a volume of 32,326 contracts thus far today. That number of contracts represents approximately 3.2 million underlying shares, working out to a sizeable 124.4% of MTDR's average daily trading volume over the past month, of 2.6 million shares.
Particularly high volume was seen for the $10 strike put option expiring October 16, 2020, with 16,708 contracts trading so far today, representing approximately 1.7 million underlying shares of MTDR. Below is a chart showing MTDR's trailing twelve month trading history, with the $10 strike highlighted in orange:
And Vera Bradley Inc. (NASDAQ:VRA) saw options trading volume of 3,190 contracts, representing approximately 319,000 underlying shares or approximately 114.1% of VRA's average daily trading volume over the past month, of 279,620 shares.
Particularly high volume was seen for the $10 strike call option expiring February 19, 2021, with 1,500 contracts trading so far today, representing approximately 150,000 underlying shares of VRA. Below is a chart showing VRA's trailing twelve month trading history, with the $10 strike highlighted in orange:
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