Notable Wednesday Option Activity: WLY, CVNA, PYPL

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in John Wiley & Sons Inc. (Symbol: WLY), where a total volume of 24,291 contracts has been traded thus far today, a contract volume which is representative of approximately 2.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 716.5% of WLY's average daily trading volume over the past month, of 339,030 shares. Particularly high volume was seen for the $35 strike put option expiring November 21, 2025, with 6,016 contracts trading so far today, representing approximately 601,600 underlying shares of WLY. Below is a chart showing WLY's trailing twelve month trading history, with the $35 strike highlighted in orange:

Carvana Co (Symbol: CVNA) options are showing a volume of 44,349 contracts thus far today. That number of contracts represents approximately 4.4 million underlying shares, working out to a sizeable 163% of CVNA's average daily trading volume over the past month, of 2.7 million shares. Especially high volume was seen for the $300 strike put option expiring October 31, 2025, with 8,017 contracts trading so far today, representing approximately 801,700 underlying shares of CVNA. Below is a chart showing CVNA's trailing twelve month trading history, with the $300 strike highlighted in orange:

And PayPal Holdings Inc (Symbol: PYPL) options are showing a volume of 224,893 contracts thus far today. That number of contracts represents approximately 22.5 million underlying shares, working out to a sizeable 150.8% of PYPL's average daily trading volume over the past month, of 14.9 million shares. Especially high volume was seen for the $75 strike call option expiring October 17, 2025, with 12,247 contracts trading so far today, representing approximately 1.2 million underlying shares of PYPL. Below is a chart showing PYPL's trailing twelve month trading history, with the $75 strike highlighted in orange:

For the various different available expirations for WLY options, CVNA options, or PYPL options, visit StockOptionsChannel.com.

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