Notable Tuesday Option Activity: V, GM, BAC

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Visa Inc (Symbol: V), where a total volume of 65,373 contracts has been traded thus far today, a contract volume which is representative of approximately 6.5 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 117% of V's average daily trading volume over the past month, of 5.6 million shares. Particularly high volume was seen for the $285 strike call option expiring February 02, 2024, with 21,608 contracts trading so far today, representing approximately 2.2 million underlying shares of V. Below is a chart showing V's trailing twelve month trading history, with the $285 strike highlighted in orange:

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General Motors Co (Symbol: GM) options are showing a volume of 187,989 contracts thus far today. That number of contracts represents approximately 18.8 million underlying shares, working out to a sizeable 109.6% of GM's average daily trading volume over the past month, of 17.2 million shares. Especially high volume was seen for the $39 strike call option expiring February 02, 2024, with 14,115 contracts trading so far today, representing approximately 1.4 million underlying shares of GM. Below is a chart showing GM's trailing twelve month trading history, with the $39 strike highlighted in orange:

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And Bank of America Corp (Symbol: BAC) saw options trading volume of 274,859 contracts, representing approximately 27.5 million underlying shares or approximately 64.9% of BAC's average daily trading volume over the past month, of 42.4 million shares. Especially high volume was seen for the $34.50 strike call option expiring February 02, 2024, with 15,924 contracts trading so far today, representing approximately 1.6 million underlying shares of BAC. Below is a chart showing BAC's trailing twelve month trading history, with the $34.50 strike highlighted in orange:

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For the various different available expirations for V options, GM options, or BAC options, visit StockOptionsChannel.com.

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