Notable Friday Option Activity: FTNT, NVDA, PYPL

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Fortinet Inc (Symbol: FTNT), where a total volume of 86,800 contracts has been traded thus far today, a contract volume which is representative of approximately 8.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 175.3% of FTNT's average daily trading volume over the past month, of 5.0 million shares. Particularly high volume was seen for the $59 strike call option expiring August 04, 2023, with 4,257 contracts trading so far today, representing approximately 425,700 underlying shares of FTNT. Below is a chart showing FTNT's trailing twelve month trading history, with the $59 strike highlighted in orange:

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NVIDIA Corp (Symbol: NVDA) saw options trading volume of 745,942 contracts, representing approximately 74.6 million underlying shares or approximately 166.2% of NVDA's average daily trading volume over the past month, of 44.9 million shares. Especially high volume was seen for the $455 strike call option expiring August 04, 2023, with 43,743 contracts trading so far today, representing approximately 4.4 million underlying shares of NVDA. Below is a chart showing NVDA's trailing twelve month trading history, with the $455 strike highlighted in orange:

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And PayPal Holdings Inc (Symbol: PYPL) options are showing a volume of 218,269 contracts thus far today. That number of contracts represents approximately 21.8 million underlying shares, working out to a sizeable 137.7% of PYPL's average daily trading volume over the past month, of 15.9 million shares. Especially high volume was seen for the $65 strike call option expiring August 04, 2023, with 11,404 contracts trading so far today, representing approximately 1.1 million underlying shares of PYPL. Below is a chart showing PYPL's trailing twelve month trading history, with the $65 strike highlighted in orange:

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For the various different available expirations for FTNT options, NVDA options, or PYPL options, visit StockOptionsChannel.com.

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