Notable Friday Option Activity: CVS, X, ALGT

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in CVS Health Corporation (Symbol: CVS), where a total volume of 33,960 contracts has been traded thus far today, a contract volume which is representative of approximately 3.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 48.3% of CVS's average daily trading volume over the past month, of 7.0 million shares. Particularly high volume was seen for the $90 strike call option expiring January 20, 2023, with 8,387 contracts trading so far today, representing approximately 838,700 underlying shares of CVS. Below is a chart showing CVS's trailing twelve month trading history, with the $90 strike highlighted in orange:

United States Steel Corp. (Symbol: X) options are showing a volume of 33,059 contracts thus far today. That number of contracts represents approximately 3.3 million underlying shares, working out to a sizeable 47.7% of X's average daily trading volume over the past month, of 6.9 million shares. Especially high volume was seen for the $29 strike call option expiring January 13, 2023, with 2,509 contracts trading so far today, representing approximately 250,900 underlying shares of X. Below is a chart showing X's trailing twelve month trading history, with the $29 strike highlighted in orange:

And Allegiant Travel Company (Symbol: ALGT) saw options trading volume of 1,053 contracts, representing approximately 105,300 underlying shares or approximately 47.3% of ALGT's average daily trading volume over the past month, of 222,535 shares. Particularly high volume was seen for the $90 strike call option expiring February 17, 2023, with 1,001 contracts trading so far today, representing approximately 100,100 underlying shares of ALGT. Below is a chart showing ALGT's trailing twelve month trading history, with the $90 strike highlighted in orange:

For the various different available expirations for CVS options, X options, or ALGT options, visit StockOptionsChannel.com.

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