Notable Wednesday Option Activity: AVGO, LRCX, TIPT

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Broadcom Inc (Symbol: AVGO), where a total volume of 97,747 contracts has been traded thus far today, a contract volume which is representative of approximately 9.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 380.4% of AVGO's average daily trading volume over the past month, of 2.6 million shares. Especially high volume was seen for the $1300 strike call option expiring January 26, 2024, with 5,901 contracts trading so far today, representing approximately 590,100 underlying shares of AVGO. Below is a chart showing AVGO's trailing twelve month trading history, with the $1300 strike highlighted in orange:

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Lam Research Corp (Symbol: LRCX) options are showing a volume of 28,883 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 321.6% of LRCX's average daily trading volume over the past month, of 898,075 shares. Especially high volume was seen for the $900 strike call option expiring January 26, 2024, with 2,058 contracts trading so far today, representing approximately 205,800 underlying shares of LRCX. Below is a chart showing LRCX's trailing twelve month trading history, with the $900 strike highlighted in orange:

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And Tiptree Inc (Symbol: TIPT) options are showing a volume of 3,153 contracts thus far today. That number of contracts represents approximately 315,300 underlying shares, working out to a sizeable 266.9% of TIPT's average daily trading volume over the past month, of 118,135 shares. Especially high volume was seen for the $20 strike call option expiring December 20, 2024, with 2,000 contracts trading so far today, representing approximately 200,000 underlying shares of TIPT. Below is a chart showing TIPT's trailing twelve month trading history, with the $20 strike highlighted in orange:

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For the various different available expirations for AVGO options, LRCX options, or TIPT options, visit StockOptionsChannel.com.

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