Markets

Notable Thursday Option Activity: TSLA, ALGN, MMM

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Tesla Inc (Symbol: TSLA), where a total volume of 530,199 contracts has been traded thus far today, a contract volume which is representative of approximately 53.0 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 657% of TSLA's average daily trading volume over the past month, of 8.1 million shares. Especially high volume was seen for the $225 strike put option expiring July 26, 2019, with 16,453 contracts trading so far today, representing approximately 1.6 million underlying shares of TSLA. Below is a chart showing TSLA's trailing twelve month trading history, with the $225 strike highlighted in orange:

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Align Technology Inc (Symbol: ALGN) saw options trading volume of 49,970 contracts, representing approximately 5.0 million underlying shares or approximately 545% of ALGN's average daily trading volume over the past month, of 916,905 shares. Especially high volume was seen for the $205 strike put option expiring August 02, 2019, with 1,995 contracts trading so far today, representing approximately 199,500 underlying shares of ALGN. Below is a chart showing ALGN's trailing twelve month trading history, with the $205 strike highlighted in orange:

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And 3M Co (Symbol: MMM) options are showing a volume of 65,637 contracts thus far today. That number of contracts represents approximately 6.6 million underlying shares, working out to a sizeable 258.9% of MMM's average daily trading volume over the past month, of 2.5 million shares. Particularly high volume was seen for the $180 strike call option expiring July 26, 2019, with 5,019 contracts trading so far today, representing approximately 501,900 underlying shares of MMM. Below is a chart showing MMM's trailing twelve month trading history, with the $180 strike highlighted in orange:

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For the various different available expirations for TSLA options, ALGN options, or MMM 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.

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