Notable Wednesday Option Activity: AMD, UBER, OKTA

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Advanced Micro Devices Inc (Symbol: AMD), where a total volume of 410,518 contracts has been traded thus far today, a contract volume which is representative of approximately 41.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 69.5% of AMD's average daily trading volume over the past month, of 59.0 million shares. Particularly high volume was seen for the $140 strike call option expiring January 14, 2022, with 44,154 contracts trading so far today, representing approximately 4.4 million underlying shares of AMD. Below is a chart showing AMD's trailing twelve month trading history, with the $140 strike highlighted in orange:

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Uber Technologies Inc (Symbol: UBER) options are showing a volume of 192,663 contracts thus far today. That number of contracts represents approximately 19.3 million underlying shares, working out to a sizeable 68.9% of UBER's average daily trading volume over the past month, of 28.0 million shares. Particularly high volume was seen for the $35 strike put option expiring January 21, 2022, with 26,252 contracts trading so far today, representing approximately 2.6 million underlying shares of UBER. Below is a chart showing UBER's trailing twelve month trading history, with the $35 strike highlighted in orange:

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And Okta Inc (Symbol: OKTA) options are showing a volume of 10,273 contracts thus far today. That number of contracts represents approximately 1.0 million underlying shares, working out to a sizeable 61.7% of OKTA's average daily trading volume over the past month, of 1.7 million shares. Particularly high volume was seen for the $220 strike put option expiring January 21, 2022, with 1,169 contracts trading so far today, representing approximately 116,900 underlying shares of OKTA. Below is a chart showing OKTA's trailing twelve month trading history, with the $220 strike highlighted in orange:

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