Notable Friday Option Activity: FCX, V, DG

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Freeport-McMoran Copper & Gold (Symbol: FCX), where a total volume of 108,362 contracts has been traded thus far today, a contract volume which is representative of approximately 10.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 44.2% of FCX's average daily trading volume over the past month, of 24.5 million shares. Particularly high volume was seen for the $9 strike call option expiring October 18, 2019, with 12,381 contracts trading so far today, representing approximately 1.2 million underlying shares of FCX. Below is a chart showing FCX's trailing twelve month trading history, with the $9 strike highlighted in orange:

Visa Inc (Symbol: V) options are showing a volume of 35,782 contracts thus far today. That number of contracts represents approximately 3.6 million underlying shares, working out to a sizeable 44.2% of V's average daily trading volume over the past month, of 8.1 million shares. Especially high volume was seen for the $177.50 strike call option expiring October 11, 2019, with 2,202 contracts trading so far today, representing approximately 220,200 underlying shares of V. Below is a chart showing V's trailing twelve month trading history, with the $177.50 strike highlighted in orange:

And Dollar General Corp (Symbol: DG) saw options trading volume of 7,011 contracts, representing approximately 701,100 underlying shares or approximately 43.8% of DG's average daily trading volume over the past month, of 1.6 million shares. Especially high volume was seen for the $100 strike put option expiring December 20, 2019, with 574 contracts trading so far today, representing approximately 57,400 underlying shares of DG. Below is a chart showing DG's trailing twelve month trading history, with the $100 strike highlighted in orange: