Notable Wednesday Option Activity: MMM, MSM, TOL

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 18,748 contracts has been traded thus far today, a contract volume which is representative of approximately 1.9 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 42.7% of MMM's average daily trading volume over the past month, of 4.4 million shares. Especially high volume was seen for the $100 strike put option expiring October 20, 2023, with 5,510 contracts trading so far today, representing approximately 551,000 underlying shares of MMM. Below is a chart showing MMM's trailing twelve month trading history, with the $100 strike highlighted in orange:

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MSC Industrial Direct Co Inc (Symbol: MSM) options are showing a volume of 1,662 contracts thus far today. That number of contracts represents approximately 166,200 underlying shares, working out to a sizeable 41.2% of MSM's average daily trading volume over the past month, of 403,520 shares. Particularly high volume was seen for the $105 strike call option expiring November 17, 2023, with 1,000 contracts trading so far today, representing approximately 100,000 underlying shares of MSM. Below is a chart showing MSM's trailing twelve month trading history, with the $105 strike highlighted in orange:

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And Toll Brothers Inc. (Symbol: TOL) saw options trading volume of 7,636 contracts, representing approximately 763,600 underlying shares or approximately 40.9% of TOL's average daily trading volume over the past month, of 1.9 million shares. Especially high volume was seen for the $60 strike put option expiring December 15, 2023, with 5,008 contracts trading so far today, representing approximately 500,800 underlying shares of TOL. Below is a chart showing TOL's trailing twelve month trading history, with the $60 strike highlighted in orange:

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For the various different available expirations for MMM options, MSM options, or TOL options, visit StockOptionsChannel.com.

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