Notable Tuesday Option Activity: MDGL, ETN, SYY

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Madrigal Pharmaceuticals Inc (Symbol: MDGL), where a total volume of 1,826 contracts has been traded thus far today, a contract volume which is representative of approximately 182,600 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 61.4% of MDGL's average daily trading volume over the past month, of 297,400 shares. Particularly high volume was seen for the $250 strike call option expiring February 16, 2024, with 522 contracts trading so far today, representing approximately 52,200 underlying shares of MDGL. Below is a chart showing MDGL's trailing twelve month trading history, with the $250 strike highlighted in orange:

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Eaton Corp plc (Symbol: ETN) options are showing a volume of 8,373 contracts thus far today. That number of contracts represents approximately 837,300 underlying shares, working out to a sizeable 59.5% of ETN's average daily trading volume over the past month, of 1.4 million shares. Particularly high volume was seen for the $260 strike call option expiring March 15, 2024, with 2,015 contracts trading so far today, representing approximately 201,500 underlying shares of ETN. Below is a chart showing ETN's trailing twelve month trading history, with the $260 strike highlighted in orange:

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And Sysco Corp (Symbol: SYY) saw options trading volume of 17,388 contracts, representing approximately 1.7 million underlying shares or approximately 57.9% of SYY's average daily trading volume over the past month, of 3.0 million shares. Especially high volume was seen for the $85 strike call option expiring February 16, 2024, with 5,193 contracts trading so far today, representing approximately 519,300 underlying shares of SYY. Below is a chart showing SYY's trailing twelve month trading history, with the $85 strike highlighted in orange:

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For the various different available expirations for MDGL options, ETN options, or SYY options, visit StockOptionsChannel.com.

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