Notable Monday Option Activity: XP, CVNA, RIVN

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in XP Inc - Class A (Symbol: XP), where a total volume of 28,469 contracts has been traded thus far today, a contract volume which is representative of approximately 2.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 43.9% of XP's average daily trading volume over the past month, of 6.5 million shares. Particularly high volume was seen for the $20 strike put option expiring August 25, 2023, with 11,800 contracts trading so far today, representing approximately 1.2 million underlying shares of XP. Below is a chart showing XP's trailing twelve month trading history, with the $20 strike highlighted in orange:

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Carvana Co (Symbol: CVNA) saw options trading volume of 127,730 contracts, representing approximately 12.8 million underlying shares or approximately 43.5% of CVNA's average daily trading volume over the past month, of 29.4 million shares. Especially high volume was seen for the $40 strike call option expiring July 21, 2023, with 9,462 contracts trading so far today, representing approximately 946,200 underlying shares of CVNA. Below is a chart showing CVNA's trailing twelve month trading history, with the $40 strike highlighted in orange:

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And Rivian Automotive Inc (Symbol: RIVN) options are showing a volume of 323,913 contracts thus far today. That number of contracts represents approximately 32.4 million underlying shares, working out to a sizeable 43.3% of RIVN's average daily trading volume over the past month, of 74.8 million shares. Especially high volume was seen for the $40 strike call option expiring August 18, 2023, with 47,810 contracts trading so far today, representing approximately 4.8 million underlying shares of RIVN. Below is a chart showing RIVN's trailing twelve month trading history, with the $40 strike highlighted in orange:

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For the various different available expirations for XP options, CVNA options, or RIVN options, visit StockOptionsChannel.com.

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