Notable Tuesday Option Activity: PENN, ABBV, KEYS

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in PENN Entertainment Inc (Symbol: PENN), where a total volume of 11,973 contracts has been traded thus far today, a contract volume which is representative of approximately 1.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 41% of PENN's average daily trading volume over the past month, of 2.9 million shares. Especially high volume was seen for the $35 strike put option expiring January 17, 2025, with 4,470 contracts trading so far today, representing approximately 447,000 underlying shares of PENN. Below is a chart showing PENN's trailing twelve month trading history, with the $35 strike highlighted in orange:

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AbbVie Inc (Symbol: ABBV) options are showing a volume of 22,391 contracts thus far today. That number of contracts represents approximately 2.2 million underlying shares, working out to a sizeable 40.7% of ABBV's average daily trading volume over the past month, of 5.5 million shares. Particularly high volume was seen for the $160 strike put option expiring May 19, 2023, with 2,241 contracts trading so far today, representing approximately 224,100 underlying shares of ABBV. Below is a chart showing ABBV's trailing twelve month trading history, with the $160 strike highlighted in orange:

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And Keysight Technologies Inc (Symbol: KEYS) options are showing a volume of 4,747 contracts thus far today. That number of contracts represents approximately 474,700 underlying shares, working out to a sizeable 40.2% of KEYS's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $150 strike call option expiring May 19, 2023, with 999 contracts trading so far today, representing approximately 99,900 underlying shares of KEYS. Below is a chart showing KEYS's trailing twelve month trading history, with the $150 strike highlighted in orange:

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For the various different available expirations for PENN options, ABBV options, or KEYS options, visit StockOptionsChannel.com.

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