Notable Thursday Option Activity: FCX, SAVA, CZR

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Freeport-McMoran Copper & Gold (Symbol: FCX), where a total volume of 56,210 contracts has been traded thus far today, a contract volume which is representative of approximately 5.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 53.4% of FCX's average daily trading volume over the past month, of 10.5 million shares. Especially high volume was seen for the $37 strike put option expiring October 20, 2023, with 5,217 contracts trading so far today, representing approximately 521,700 underlying shares of FCX. Below is a chart showing FCX's trailing twelve month trading history, with the $37 strike highlighted in orange:

Cassava Sciences Inc (Symbol: SAVA) options are showing a volume of 7,458 contracts thus far today. That number of contracts represents approximately 745,800 underlying shares, working out to a sizeable 53.3% of SAVA's average daily trading volume over the past month, of 1.4 million shares. Particularly high volume was seen for the $15 strike call option expiring October 20, 2023, with 817 contracts trading so far today, representing approximately 81,700 underlying shares of SAVA. Below is a chart showing SAVA's trailing twelve month trading history, with the $15 strike highlighted in orange:

And Caesars Entertainment Inc (Symbol: CZR) saw options trading volume of 14,136 contracts, representing approximately 1.4 million underlying shares or approximately 52.4% of CZR's average daily trading volume over the past month, of 2.7 million shares. Especially high volume was seen for the $44.50 strike call option expiring October 20, 2023, with 3,973 contracts trading so far today, representing approximately 397,300 underlying shares of CZR. Below is a chart showing CZR's trailing twelve month trading history, with the $44.50 strike highlighted in orange:

For the various different available expirations for FCX options, SAVA options, or CZR options, visit StockOptionsChannel.com.

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