Notable Tuesday Option Activity: NFLX, META, CSTM

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Netflix Inc (Symbol: NFLX), where a total volume of 66,324 contracts has been traded thus far today, a contract volume which is representative of approximately 6.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 153.3% of NFLX's average daily trading volume over the past month, of 4.3 million shares. Particularly high volume was seen for the $450 strike call option expiring September 15, 2023, with 3,824 contracts trading so far today, representing approximately 382,400 underlying shares of NFLX. Below is a chart showing NFLX's trailing twelve month trading history, with the $450 strike highlighted in orange:

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Meta Platforms Inc (Symbol: META) saw options trading volume of 233,235 contracts, representing approximately 23.3 million underlying shares or approximately 121.9% of META's average daily trading volume over the past month, of 19.1 million shares. Especially high volume was seen for the $310 strike call option expiring September 15, 2023, with 18,289 contracts trading so far today, representing approximately 1.8 million underlying shares of META. Below is a chart showing META's trailing twelve month trading history, with the $310 strike highlighted in orange:

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And Constellium SE (Symbol: CSTM) options are showing a volume of 5,813 contracts thus far today. That number of contracts represents approximately 581,300 underlying shares, working out to a sizeable 116.3% of CSTM's average daily trading volume over the past month, of 499,660 shares. Especially high volume was seen for the $17.50 strike put option expiring September 22, 2023, with 3,000 contracts trading so far today, representing approximately 300,000 underlying shares of CSTM. Below is a chart showing CSTM's trailing twelve month trading history, with the $17.50 strike highlighted in orange:

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For the various different available expirations for NFLX options, META options, or CSTM options, visit StockOptionsChannel.com.

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