Notable Thursday Option Activity: EMN, SAVE, UPS

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Eastman Chemical Co (Symbol: EMN), where a total volume of 8,480 contracts has been traded thus far today, a contract volume which is representative of approximately 848,000 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 90.6% of EMN's average daily trading volume over the past month, of 936,305 shares. Particularly high volume was seen for the $80 strike call option expiring December 15, 2023, with 3,157 contracts trading so far today, representing approximately 315,700 underlying shares of EMN. Below is a chart showing EMN's trailing twelve month trading history, with the $80 strike highlighted in orange:

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Spirit Airlines Inc (Symbol: SAVE) saw options trading volume of 59,790 contracts, representing approximately 6.0 million underlying shares or approximately 89.7% of SAVE's average daily trading volume over the past month, of 6.7 million shares. Especially high volume was seen for the $20 strike call option expiring January 19, 2024, with 8,407 contracts trading so far today, representing approximately 840,700 underlying shares of SAVE. Below is a chart showing SAVE's trailing twelve month trading history, with the $20 strike highlighted in orange:

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And United Parcel Service Inc (Symbol: UPS) options are showing a volume of 29,245 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 87.6% of UPS's average daily trading volume over the past month, of 3.3 million shares. Particularly high volume was seen for the $165 strike call option expiring January 19, 2024, with 2,636 contracts trading so far today, representing approximately 263,600 underlying shares of UPS. Below is a chart showing UPS's trailing twelve month trading history, with the $165 strike highlighted in orange:

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For the various different available expirations for EMN options, SAVE options, or UPS options, visit StockOptionsChannel.com.

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