Markets

Notable Friday Option Activity: BIIB, CASA, XRX

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Biogen Inc (Symbol: BIIB), where a total volume of 12,151 contracts has been traded thus far today, a contract volume which is representative of approximately 1.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 90.9% of BIIB's average daily trading volume over the past month, of 1.3 million shares. Particularly high volume was seen for the $320 strike call option expiring February 21, 2020, with 1,996 contracts trading so far today, representing approximately 199,600 underlying shares of BIIB. Below is a chart showing BIIB's trailing twelve month trading history, with the $320 strike highlighted in orange:

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Casa Systems Inc (Symbol: CASA) options are showing a volume of 3,843 contracts thus far today. That number of contracts represents approximately 384,300 underlying shares, working out to a sizeable 87.4% of CASA's average daily trading volume over the past month, of 439,945 shares. Especially high volume was seen for the $5 strike call option expiring February 21, 2020, with 1,080 contracts trading so far today, representing approximately 108,000 underlying shares of CASA. Below is a chart showing CASA's trailing twelve month trading history, with the $5 strike highlighted in orange:

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And Xerox Holdings Corp (Symbol: XRX) saw options trading volume of 12,794 contracts, representing approximately 1.3 million underlying shares or approximately 86.2% of XRX's average daily trading volume over the past month, of 1.5 million shares. Particularly high volume was seen for the $37 strike call option expiring April 17, 2020, with 10,092 contracts trading so far today, representing approximately 1.0 million underlying shares of XRX. Below is a chart showing XRX's trailing twelve month trading history, with the $37 strike highlighted in orange:

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For the various different available expirations for BIIB options, CASA options, or XRX options, visit StockOptionsChannel.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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