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Notable Wednesday Option Activity: ZEUS, SLB, GME
By Market News Video Staff, Wednesday, May 5, 3:27 PM ET
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Olympic Steel Inc. (NASDAQ:ZEUS), where a total volume of 829 contracts has been traded thus far today, a contract volume which is representative of approximately 82,900 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 70.3% of ZEUS's average daily trading volume over the past month, of 117,935 shares. Especially high volume was seen for the $30 strike call option expiring May 21, 2021, with 212 contracts trading so far today, representing approximately 21,200 underlying shares of ZEUS. Below is a chart showing ZEUS's trailing twelve month trading history, with the $30 strike highlighted in orange:
Schlumberger Ltd (NYSE:SLB) options are showing a volume of 83,672 contracts thus far today. That number of contracts represents approximately 8.4 million underlying shares, working out to a sizeable 69.8% of SLB's average daily trading volume over the past month, of 12.0 million shares.
Especially high volume was seen for the $32.50 strike call option expiring May 21, 2021, with 14,483 contracts trading so far today, representing approximately 1.4 million underlying shares of SLB. Below is a chart showing SLB's trailing twelve month trading history, with the $32.50 strike highlighted in orange:
And GameStop Corp (NYSE:GME) options are showing a volume of 52,757 contracts thus far today. That number of contracts represents approximately 5.3 million underlying shares, working out to a sizeable 69.4% of GME's average daily trading volume over the past month, of 7.6 million shares.
Especially high volume was seen for the $200 strike call option expiring May 07, 2021, with 3,714 contracts trading so far today, representing approximately 371,400 underlying shares of GME. Below is a chart showing GME's trailing twelve month trading history, with the $200 strike highlighted in orange:
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