Notable Friday Option Activity: IP, TNK, GWW

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 23,259 contracts has been traded thus far today, a contract volume which is representative of approximately 2.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 87.5% of IP's average daily trading volume over the past month, of 2.7 million shares. Particularly high volume was seen for the $40 strike call option expiring February 16, 2024, with 10,643 contracts trading so far today, representing approximately 1.1 million underlying shares of IP. Below is a chart showing IP's trailing twelve month trading history, with the $40 strike highlighted in orange:

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Teekay Tankers Ltd (Symbol: TNK) saw options trading volume of 3,775 contracts, representing approximately 377,500 underlying shares or approximately 81% of TNK's average daily trading volume over the past month, of 466,205 shares. Especially high volume was seen for the $80 strike call option expiring May 17, 2024, with 2,000 contracts trading so far today, representing approximately 200,000 underlying shares of TNK. Below is a chart showing TNK's trailing twelve month trading history, with the $80 strike highlighted in orange:

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And W.W. Grainger Inc. (Symbol: GWW) options are showing a volume of 1,680 contracts thus far today. That number of contracts represents approximately 168,000 underlying shares, working out to a sizeable 80.1% of GWW's average daily trading volume over the past month, of 209,840 shares. Particularly high volume was seen for the $960 strike call option expiring July 19, 2024, with 250 contracts trading so far today, representing approximately 25,000 underlying shares of GWW. Below is a chart showing GWW's trailing twelve month trading history, with the $960 strike highlighted in orange:

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For the various different available expirations for IP options, TNK options, or GWW options, visit StockOptionsChannel.com.

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