Notable Monday Option Activity: AIT, MSTR, ALE

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Applied Industrial Technologies, Inc. (Symbol: AIT), where a total volume of 6,898 contracts has been traded thus far today, a contract volume which is representative of approximately 689,800 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 324.3% of AIT's average daily trading volume over the past month, of 212,695 shares. Particularly high volume was seen for the $280 strike put option expiring July 19, 2024, with 2,025 contracts trading so far today, representing approximately 202,500 underlying shares of AIT. Below is a chart showing AIT's trailing twelve month trading history, with the $280 strike highlighted in orange:

MicroStrategy Inc. (Symbol: MSTR) saw options trading volume of 19,592 contracts, representing approximately 2.0 million underlying shares or approximately 150.1% of MSTR's average daily trading volume over the past month, of 1.3 million shares. Especially high volume was seen for the $3350 strike call option expiring June 14, 2024, with 824 contracts trading so far today, representing approximately 82,400 underlying shares of MSTR. Below is a chart showing MSTR's trailing twelve month trading history, with the $3350 strike highlighted in orange:

And Allete Inc (Symbol: ALE) options are showing a volume of 6,782 contracts thus far today. That number of contracts represents approximately 678,200 underlying shares, working out to a sizeable 143.5% of ALE's average daily trading volume over the past month, of 472,685 shares. Especially high volume was seen for the $45 strike call option expiring June 21, 2024, with 2,710 contracts trading so far today, representing approximately 271,000 underlying shares of ALE. Below is a chart showing ALE's trailing twelve month trading history, with the $45 strike highlighted in orange:

For the various different available expirations for AIT options, MSTR options, or ALE options, visit StockOptionsChannel.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.