Notable Thursday Option Activity: ISRG, CABA, NUVL

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Intuitive Surgical Inc (Symbol: ISRG), where a total volume of 9,570 contracts has been traded thus far today, a contract volume which is representative of approximately 957,000 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 59.3% of ISRG's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $320 strike put option expiring February 23, 2024, with 800 contracts trading so far today, representing approximately 80,000 underlying shares of ISRG. Below is a chart showing ISRG's trailing twelve month trading history, with the $320 strike highlighted in orange:

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Cabaletta Bio Inc (Symbol: CABA) options are showing a volume of 5,144 contracts thus far today. That number of contracts represents approximately 514,400 underlying shares, working out to a sizeable 58.9% of CABA's average daily trading volume over the past month, of 874,080 shares. Particularly high volume was seen for the $20 strike put option expiring February 16, 2024, with 2,000 contracts trading so far today, representing approximately 200,000 underlying shares of CABA. Below is a chart showing CABA's trailing twelve month trading history, with the $20 strike highlighted in orange:

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And Nuvalent Inc (Symbol: NUVL) options are showing a volume of 2,619 contracts thus far today. That number of contracts represents approximately 261,900 underlying shares, working out to a sizeable 58.7% of NUVL's average daily trading volume over the past month, of 446,445 shares. Especially high volume was seen for the $70 strike call option expiring January 19, 2024, with 1,000 contracts trading so far today, representing approximately 100,000 underlying shares of NUVL. Below is a chart showing NUVL's trailing twelve month trading history, with the $70 strike highlighted in orange:

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For the various different available expirations for ISRG options, CABA options, or NUVL options, visit StockOptionsChannel.com.

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