Notable Tuesday Option Activity: NOW, LULU, IBM

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in ServiceNow Inc (Symbol: NOW), where a total volume of 7,548 contracts has been traded thus far today, a contract volume which is representative of approximately 754,800 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 82.2% of NOW's average daily trading volume over the past month, of 917,900 shares. Particularly high volume was seen for the $800 strike call option expiring January 26, 2024, with 293 contracts trading so far today, representing approximately 29,300 underlying shares of NOW. Below is a chart showing NOW's trailing twelve month trading history, with the $800 strike highlighted in orange:

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lululemon athletica inc (Symbol: LULU) options are showing a volume of 9,054 contracts thus far today. That number of contracts represents approximately 905,400 underlying shares, working out to a sizeable 80.5% of LULU's average daily trading volume over the past month, of 1.1 million shares. Particularly high volume was seen for the $480 strike call option expiring January 26, 2024, with 532 contracts trading so far today, representing approximately 53,200 underlying shares of LULU. Below is a chart showing LULU's trailing twelve month trading history, with the $480 strike highlighted in orange:

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And International Business Machines Corp (Symbol: IBM) options are showing a volume of 27,828 contracts thus far today. That number of contracts represents approximately 2.8 million underlying shares, working out to a sizeable 76.5% of IBM's average daily trading volume over the past month, of 3.6 million shares. Particularly high volume was seen for the $170 strike put option expiring March 15, 2024, with 2,207 contracts trading so far today, representing approximately 220,700 underlying shares of IBM. Below is a chart showing IBM's trailing twelve month trading history, with the $170 strike highlighted in orange:

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For the various different available expirations for NOW options, LULU options, or IBM options, visit StockOptionsChannel.com.

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