Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Express Inc (NYSE:EXPR), where a total volume of 94,612 contracts has been traded thus far today, a contract volume which is representative of approximately 9.5 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 172.3% of EXPR's average daily trading volume over the past month, of 5.5 million shares. Particularly high volume was seen for the $5 strike call option expiring May 28, 2021, with 24,150 contracts trading so far today, representing approximately 2.4 million underlying shares of EXPR. Below is a chart showing EXPR's trailing twelve month trading history, with the $5 strike highlighted in orange:
Reliance Steel & Aluminum Co. (NYSE:RS) options are showing a volume of 6,748 contracts thus far today. That number of contracts represents approximately 674,800 underlying shares, working out to a sizeable 170.6% of RS's average daily trading volume over the past month, of 395,515 shares.
Especially high volume was seen for the $125 strike call option expiring June 18, 2021, with 3,100 contracts trading so far today, representing approximately 310,000 underlying shares of RS. Below is a chart showing RS's trailing twelve month trading history, with the $125 strike highlighted in orange:
And Union Pacific Corp (NYSE:UNP) saw options trading volume of 38,578 contracts, representing approximately 3.9 million underlying shares or approximately 162.8% of UNP's average daily trading volume over the past month, of 2.4 million shares.
Particularly high volume was seen for the $200 strike call option expiring June 18, 2021, with 13,600 contracts trading so far today, representing approximately 1.4 million underlying shares of UNP. Below is a chart showing UNP's trailing twelve month trading history, with the $200 strike highlighted in orange:
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