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Notable Wednesday Option Activity: MMM, PENN, EPR

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in 3M Co (Symbol: MMM), where a total volume of 11,472 contracts has been traded thus far today, a contract volume which is representative of approximately 1.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 46.7% of MMM's average daily trading volume over the past month, of 2.5 million shares. Especially high volume was seen for the $160 strike call option expiring August 21, 2020, with 975 contracts trading so far today, representing approximately 97,500 underlying shares of MMM. Below is a chart showing MMM's trailing twelve month trading history, with the $160 strike highlighted in orange:

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Penn National Gaming Inc (Symbol: PENN) options are showing a volume of 53,201 contracts thus far today. That number of contracts represents approximately 5.3 million underlying shares, working out to a sizeable 46.7% of PENN's average daily trading volume over the past month, of 11.4 million shares. Particularly high volume was seen for the $33.50 strike call option expiring July 17, 2020, with 4,274 contracts trading so far today, representing approximately 427,400 underlying shares of PENN. Below is a chart showing PENN's trailing twelve month trading history, with the $33.50 strike highlighted in orange:

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And EPR Properties (Symbol: EPR) saw options trading volume of 6,021 contracts, representing approximately 602,100 underlying shares or approximately 45.7% of EPR's average daily trading volume over the past month, of 1.3 million shares. Especially high volume was seen for the $40 strike call option expiring August 21, 2020, with 5,305 contracts trading so far today, representing approximately 530,500 underlying shares of EPR. Below is a chart showing EPR's trailing twelve month trading history, with the $40 strike highlighted in orange:

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For the various different available expirations for MMM options, PENN options, or EPR options, visit StockOptionsChannel.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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