Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Achillion Pharmaceuticals Inc (ACHN), where a total volume of 22,740 contracts has been traded thus far today, a contract volume which is representative of approximately 2.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 91.1% of ACHN's average daily trading volume over the past month, of 2.5 million shares. Especially high volume was seen for the $7 strike call option expiring December 18, 2020, with 7,037 contracts trading so far today, representing approximately 703,700 underlying shares of ACHN. Below is a chart showing ACHN's trailing twelve month trading history, with the $7 strike highlighted in orange:
Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) saw options trading volume of 4,586 contracts, representing approximately 458,600 underlying shares or approximately 89.9% of BHVN's average daily trading volume over the past month, of 510,090 shares.
Particularly high volume was seen for the $55 strike call option expiring December 20, 2019, with 2,128 contracts trading so far today, representing approximately 212,800 underlying shares of BHVN. Below is a chart showing BHVN's trailing twelve month trading history, with the $55 strike highlighted in orange:
And Advanced Micro Devices Inc (NASDAQ:AMD) options are showing a volume of 528,549 contracts thus far today. That number of contracts represents approximately 52.9 million underlying shares, working out to a sizeable 87.2% of AMD's average daily trading volume over the past month, of 60.6 million shares.
Especially high volume was seen for the $42 strike call option expiring November 22, 2019, with 26,292 contracts trading so far today, representing approximately 2.6 million underlying shares of AMD. Below is a chart showing AMD's trailing twelve month trading history, with the $42 strike highlighted in orange:
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