Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Lam Research Corp (NASDAQ:LRCX), where a total volume of 10,640 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 80.4% of LRCX's average daily trading volume over the past month, of 1.3 million shares. Especially high volume was seen for the $540 strike put option expiring January 15, 2021, with 896 contracts trading so far today, representing approximately 89,600 underlying shares of LRCX. Below is a chart showing LRCX's trailing twelve month trading history, with the $540 strike highlighted in orange:
Wells Fargo & Co (NYSE:WFC) saw options trading volume of 283,897 contracts, representing approximately 28.4 million underlying shares or approximately 77.1% of WFC's average daily trading volume over the past month, of 36.8 million shares.
Especially high volume was seen for the $20 strike put option expiring January 15, 2021, with 58,027 contracts trading so far today, representing approximately 5.8 million underlying shares of WFC. Below is a chart showing WFC's trailing twelve month trading history, with the $20 strike highlighted in orange:
And Garmin Ltd (NASDAQ:GRMN) options are showing a volume of 4,741 contracts thus far today. That number of contracts represents approximately 474,100 underlying shares, working out to a sizeable 74.7% of GRMN's average daily trading volume over the past month, of 634,700 shares.
Especially high volume was seen for the $95 strike put option expiring February 19, 2021, with 3,747 contracts trading so far today, representing approximately 374,700 underlying shares of GRMN. Below is a chart showing GRMN's trailing twelve month trading history, with the $95 strike highlighted in orange:
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