Notable Wednesday Option Activity: CAKE, WDC, FND

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Cheesecake Factory Inc. (Symbol: CAKE), where a total volume of 8,554 contracts has been traded thus far today, a contract volume which is representative of approximately 855,400 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 65.6% of CAKE's average daily trading volume over the past month, of 1.3 million shares. Particularly high volume was seen for the $60 strike call option expiring February 21, 2025, with 1,693 contracts trading so far today, representing approximately 169,300 underlying shares of CAKE. Below is a chart showing CAKE's trailing twelve month trading history, with the $60 strike highlighted in orange:

Western Digital Corp (Symbol: WDC) saw options trading volume of 48,806 contracts, representing approximately 4.9 million underlying shares or approximately 64.1% of WDC's average daily trading volume over the past month, of 7.6 million shares. Especially high volume was seen for the $75 strike call option expiring February 28, 2025, with 17,529 contracts trading so far today, representing approximately 1.8 million underlying shares of WDC. Below is a chart showing WDC's trailing twelve month trading history, with the $75 strike highlighted in orange:

And Floor & Decor Holdings Inc (Symbol: FND) options are showing a volume of 9,119 contracts thus far today. That number of contracts represents approximately 911,900 underlying shares, working out to a sizeable 62.9% of FND's average daily trading volume over the past month, of 1.5 million shares. Particularly high volume was seen for the $100 strike call option expiring March 21, 2025, with 2,417 contracts trading so far today, representing approximately 241,700 underlying shares of FND. Below is a chart showing FND's trailing twelve month trading history, with the $100 strike highlighted in orange:

For the various different available expirations for CAKE options, WDC options, or FND options, visit StockOptionsChannel.com.

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