Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Palo Alto Networks, Inc (NYSE:PANW), where a total volume of 5,788 contracts has been traded thus far today, a contract volume which is representative of approximately 578,800 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 73.4% of PANW's average daily trading volume over the past month, of 788,035 shares. Especially high volume was seen for the $210 strike put option expiring November 20, 2020, with 871 contracts trading so far today, representing approximately 87,100 underlying shares of PANW. Below is a chart showing PANW's trailing twelve month trading history, with the $210 strike highlighted in orange:
Boyd Gaming Corp. (NYSE:BYD) saw options trading volume of 10,042 contracts, representing approximately 1.0 million underlying shares or approximately 72.6% of BYD's average daily trading volume over the past month, of 1.4 million shares.
Particularly high volume was seen for the $36 strike call option expiring November 20, 2020, with 2,142 contracts trading so far today, representing approximately 214,200 underlying shares of BYD. Below is a chart showing BYD's trailing twelve month trading history, with the $36 strike highlighted in orange:
And Turning Point Brands Inc (NYSE:TPB) options are showing a volume of 960 contracts thus far today. That number of contracts represents approximately 96,000 underlying shares, working out to a sizeable 70.2% of TPB's average daily trading volume over the past month, of 136,845 shares.
Particularly high volume was seen for the $40 strike call option expiring January 15, 2021, with 326 contracts trading so far today, representing approximately 32,600 underlying shares of TPB. Below is a chart showing TPB's trailing twelve month trading history, with the $40 strike highlighted in orange:
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