Notable Thursday Option Activity: NET, SMCI, MDGL

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 24,424 contracts has been traded thus far today, a contract volume which is representative of approximately 2.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 84.9% of NET's average daily trading volume over the past month, of 2.9 million shares. Particularly high volume was seen for the $60 strike put option expiring November 17, 2023, with 2,582 contracts trading so far today, representing approximately 258,200 underlying shares of NET. Below is a chart showing NET's trailing twelve month trading history, with the $60 strike highlighted in orange:

Super Micro Computer Inc (Symbol: SMCI) options are showing a volume of 27,937 contracts thus far today. That number of contracts represents approximately 2.8 million underlying shares, working out to a sizeable 84.1% of SMCI's average daily trading volume over the past month, of 3.3 million shares. Particularly high volume was seen for the $230 strike put option expiring September 22, 2023, with 1,878 contracts trading so far today, representing approximately 187,800 underlying shares of SMCI. Below is a chart showing SMCI's trailing twelve month trading history, with the $230 strike highlighted in orange:

And Madrigal Pharmaceuticals Inc (Symbol: MDGL) options are showing a volume of 3,065 contracts thus far today. That number of contracts represents approximately 306,500 underlying shares, working out to a sizeable 80.9% of MDGL's average daily trading volume over the past month, of 378,865 shares. Particularly high volume was seen for the $150 strike put option expiring November 17, 2023, with 1,000 contracts trading so far today, representing approximately 100,000 underlying shares of MDGL. Below is a chart showing MDGL's trailing twelve month trading history, with the $150 strike highlighted in orange:

For the various different available expirations for NET options, SMCI options, or MDGL options, visit StockOptionsChannel.com.

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