Notable Friday Option Activity: AMD, DGX, CVS

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Advanced Micro Devices Inc (Symbol: AMD), where a total volume of 367,922 contracts has been traded thus far today, a contract volume which is representative of approximately 36.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 47.3% of AMD's average daily trading volume over the past month, of 77.8 million shares. Especially high volume was seen for the $84 strike call option expiring August 21, 2020, with 46,944 contracts trading so far today, representing approximately 4.7 million underlying shares of AMD. Below is a chart showing AMD's trailing twelve month trading history, with the $84 strike highlighted in orange:

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Quest Diagnostics, Inc. (Symbol: DGX) saw options trading volume of 5,187 contracts, representing approximately 518,700 underlying shares or approximately 47.2% of DGX's average daily trading volume over the past month, of 1.1 million shares. Especially high volume was seen for the $120 strike call option expiring October 16, 2020, with 1,244 contracts trading so far today, representing approximately 124,400 underlying shares of DGX. Below is a chart showing DGX's trailing twelve month trading history, with the $120 strike highlighted in orange:

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And CVS Health Corporation (Symbol: CVS) saw options trading volume of 31,810 contracts, representing approximately 3.2 million underlying shares or approximately 46.7% of CVS's average daily trading volume over the past month, of 6.8 million shares. Especially high volume was seen for the $55 strike put option expiring February 19, 2021, with 2,003 contracts trading so far today, representing approximately 200,300 underlying shares of CVS. Below is a chart showing CVS's trailing twelve month trading history, with the $55 strike highlighted in orange:

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