Notable Wednesday Option Activity: AI, SAIL, HCI

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in C3.ai Inc (Symbol: AI), where a total volume of 14,787 contracts has been traded thus far today, a contract volume which is representative of approximately 1.5 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 74.3% of AI's average daily trading volume over the past month, of 2.0 million shares. Particularly high volume was seen for the $55 strike call option expiring November 19, 2021, with 2,538 contracts trading so far today, representing approximately 253,800 underlying shares of AI. Below is a chart showing AI's trailing twelve month trading history, with the $55 strike highlighted in orange:

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SailPoint Technologies Holdings Inc (Symbol: SAIL) options are showing a volume of 4,461 contracts thus far today. That number of contracts represents approximately 446,100 underlying shares, working out to a sizeable 74.2% of SAIL's average daily trading volume over the past month, of 601,235 shares. Especially high volume was seen for the $65 strike call option expiring December 17, 2021, with 857 contracts trading so far today, representing approximately 85,700 underlying shares of SAIL. Below is a chart showing SAIL's trailing twelve month trading history, with the $65 strike highlighted in orange:

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And HCI Group Inc (Symbol: HCI) saw options trading volume of 524 contracts, representing approximately 52,400 underlying shares or approximately 73.9% of HCI's average daily trading volume over the past month, of 70,935 shares. Especially high volume was seen for the $95 strike call option expiring January 21, 2022, with 158 contracts trading so far today, representing approximately 15,800 underlying shares of HCI. Below is a chart showing HCI's trailing twelve month trading history, with the $95 strike highlighted in orange:

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