Notable Tuesday Option Activity: XPO, PYPL, ALGN

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in XPO Inc (Symbol: XPO), where a total volume of 15,509 contracts has been traded thus far today, a contract volume which is representative of approximately 1.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 84.2% of XPO's average daily trading volume over the past month, of 1.8 million shares. Particularly high volume was seen for the $80 strike put option expiring December 15, 2023, with 7,004 contracts trading so far today, representing approximately 700,400 underlying shares of XPO. Below is a chart showing XPO's trailing twelve month trading history, with the $80 strike highlighted in orange:

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PayPal Holdings Inc (Symbol: PYPL) options are showing a volume of 133,925 contracts thus far today. That number of contracts represents approximately 13.4 million underlying shares, working out to a sizeable 82% of PYPL's average daily trading volume over the past month, of 16.3 million shares. Particularly high volume was seen for the $70 strike put option expiring January 19, 2024, with 16,569 contracts trading so far today, representing approximately 1.7 million underlying shares of PYPL. Below is a chart showing PYPL's trailing twelve month trading history, with the $70 strike highlighted in orange:

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And Align Technology Inc (Symbol: ALGN) saw options trading volume of 13,754 contracts, representing approximately 1.4 million underlying shares or approximately 78.8% of ALGN's average daily trading volume over the past month, of 1.7 million shares. Particularly high volume was seen for the $300 strike put option expiring January 19, 2024, with 2,470 contracts trading so far today, representing approximately 247,000 underlying shares of ALGN. Below is a chart showing ALGN's trailing twelve month trading history, with the $300 strike highlighted in orange:

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For the various different available expirations for XPO options, PYPL options, or ALGN options, visit StockOptionsChannel.com.

Today's Most Active Call & Put Options of the S&P 500 »

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