Notable Thursday Option Activity: NFLX, CMG, TWTR

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Netflix Inc (Symbol: NFLX), where a total volume of 290,821 contracts has been traded thus far today, a contract volume which is representative of approximately 29.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 430.5% of NFLX's average daily trading volume over the past month, of 6.8 million shares. Particularly high volume was seen for the $240 strike call option expiring September 16, 2022, with 23,797 contracts trading so far today, representing approximately 2.4 million underlying shares of NFLX. Below is a chart showing NFLX's trailing twelve month trading history, with the $240 strike highlighted in orange:

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Chipotle Mexican Grill Inc (Symbol: CMG) options are showing a volume of 4,598 contracts thus far today. That number of contracts represents approximately 459,800 underlying shares, working out to a sizeable 234.5% of CMG's average daily trading volume over the past month, of 196,095 shares. Especially high volume was seen for the $2500 strike call option expiring June 16, 2023, with 122 contracts trading so far today, representing approximately 12,200 underlying shares of CMG. Below is a chart showing CMG's trailing twelve month trading history, with the $2500 strike highlighted in orange:

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And Twitter Inc (Symbol: TWTR) options are showing a volume of 162,112 contracts thus far today. That number of contracts represents approximately 16.2 million underlying shares, working out to a sizeable 146.7% of TWTR's average daily trading volume over the past month, of 11.0 million shares. Especially high volume was seen for the $30 strike put option expiring December 16, 2022, with 11,172 contracts trading so far today, representing approximately 1.1 million underlying shares of TWTR. Below is a chart showing TWTR's trailing twelve month trading history, with the $30 strike highlighted in orange:

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