Notable Thursday Option Activity: NET, SQ, ENVX

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in CloudFlare Inc (Symbol: NET), where a total volume of 25,985 contracts has been traded thus far today, a contract volume which is representative of approximately 2.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 109.7% of NET's average daily trading volume over the past month, of 2.4 million shares. Especially high volume was seen for the $79 strike call option expiring August 30, 2024, with 3,280 contracts trading so far today, representing approximately 328,000 underlying shares of NET. Below is a chart showing NET's trailing twelve month trading history, with the $79 strike highlighted in orange:

Block Inc (Symbol: SQ) saw options trading volume of 74,954 contracts, representing approximately 7.5 million underlying shares or approximately 108.9% of SQ's average daily trading volume over the past month, of 6.9 million shares. Especially high volume was seen for the $60 strike put option expiring September 20, 2024, with 6,507 contracts trading so far today, representing approximately 650,700 underlying shares of SQ. Below is a chart showing SQ's trailing twelve month trading history, with the $60 strike highlighted in orange:

And Enovix Corp (Symbol: ENVX) options are showing a volume of 57,314 contracts thus far today. That number of contracts represents approximately 5.7 million underlying shares, working out to a sizeable 105.3% of ENVX's average daily trading volume over the past month, of 5.4 million shares. Especially high volume was seen for the $17 strike call option expiring August 16, 2024, with 3,666 contracts trading so far today, representing approximately 366,600 underlying shares of ENVX. Below is a chart showing ENVX's trailing twelve month trading history, with the $17 strike highlighted in orange:

For the various different available expirations for NET options, SQ options, or ENVX options, visit StockOptionsChannel.com.

Today's Most Active Call & Put Options of the S&P 500 »

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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.