Markets

Notable Tuesday Option Activity: ORCL, CVS, CVX

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Oracle Corp (Symbol: ORCL), where a total volume of 78,989 contracts has been traded thus far today, a contract volume which is representative of approximately 7.9 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 80.5% of ORCL's average daily trading volume over the past month, of 9.8 million shares. Especially high volume was seen for the $56 strike put option expiring September 13, 2019, with 40,754 contracts trading so far today, representing approximately 4.1 million underlying shares of ORCL. Below is a chart showing ORCL's trailing twelve month trading history, with the $56 strike highlighted in orange:

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CVS Health Corporation (Symbol: CVS) options are showing a volume of 50,311 contracts thus far today. That number of contracts represents approximately 5.0 million underlying shares, working out to a sizeable 64.1% of CVS's average daily trading volume over the past month, of 7.8 million shares. Particularly high volume was seen for the $67.50 strike call option expiring November 15, 2019, with 27,106 contracts trading so far today, representing approximately 2.7 million underlying shares of CVS. Below is a chart showing CVS's trailing twelve month trading history, with the $67.50 strike highlighted in orange:

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And Chevron Corporation (Symbol: CVX) options are showing a volume of 31,595 contracts thus far today. That number of contracts represents approximately 3.2 million underlying shares, working out to a sizeable 60.8% of CVX's average daily trading volume over the past month, of 5.2 million shares. Especially high volume was seen for the $125 strike call option expiring September 20, 2019, with 3,657 contracts trading so far today, representing approximately 365,700 underlying shares of CVX. Below is a chart showing CVX's trailing twelve month trading history, with the $125 strike highlighted in orange:

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For the various different available expirations for ORCL options, CVS options, or CVX options, visit StockOptionsChannel.com.

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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.

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