Notable Friday Option Activity: IP, INDI, AMBA

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in International Paper Co (Symbol: IP), where a total volume of 17,701 contracts has been traded thus far today, a contract volume which is representative of approximately 1.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 51% of IP's average daily trading volume over the past month, of 3.5 million shares. Especially high volume was seen for the $35 strike put option expiring August 18, 2023, with 7,789 contracts trading so far today, representing approximately 778,900 underlying shares of IP. Below is a chart showing IP's trailing twelve month trading history, with the $35 strike highlighted in orange:

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indie Semiconductor Inc (Symbol: INDI) options are showing a volume of 7,372 contracts thus far today. That number of contracts represents approximately 737,200 underlying shares, working out to a sizeable 50.8% of INDI's average daily trading volume over the past month, of 1.4 million shares. Particularly high volume was seen for the $7.50 strike put option expiring August 18, 2023, with 2,379 contracts trading so far today, representing approximately 237,900 underlying shares of INDI. Below is a chart showing INDI's trailing twelve month trading history, with the $7.50 strike highlighted in orange:

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And Ambarella, Inc. (Symbol: AMBA) options are showing a volume of 2,041 contracts thus far today. That number of contracts represents approximately 204,100 underlying shares, working out to a sizeable 50.4% of AMBA's average daily trading volume over the past month, of 405,020 shares. Especially high volume was seen for the $47.50 strike put option expiring January 17, 2025, with 413 contracts trading so far today, representing approximately 41,300 underlying shares of AMBA. Below is a chart showing AMBA's trailing twelve month trading history, with the $47.50 strike highlighted in orange:

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For the various different available expirations for IP options, INDI options, or AMBA options, visit StockOptionsChannel.com.

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