Notable Wednesday Option Activity: MRVL, GPI, AMBC

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Marvell Technology Inc (Symbol: MRVL), where a total volume of 95,574 contracts has been traded thus far today, a contract volume which is representative of approximately 9.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 53.2% of MRVL's average daily trading volume over the past month, of 18.0 million shares. Particularly high volume was seen for the $80 strike call option expiring April 19, 2024, with 9,380 contracts trading so far today, representing approximately 938,000 underlying shares of MRVL. Below is a chart showing MRVL's trailing twelve month trading history, with the $80 strike highlighted in orange:

Group 1 Automotive, Inc. (Symbol: GPI) saw options trading volume of 714 contracts, representing approximately 71,400 underlying shares or approximately 53.1% of GPI's average daily trading volume over the past month, of 134,510 shares. Particularly high volume was seen for the $200 strike call option expiring July 19, 2024, with 399 contracts trading so far today, representing approximately 39,900 underlying shares of GPI. Below is a chart showing GPI's trailing twelve month trading history, with the $200 strike highlighted in orange:

And Ambac Financial Group, Inc. (Symbol: AMBC) options are showing a volume of 2,060 contracts thus far today. That number of contracts represents approximately 206,000 underlying shares, working out to a sizeable 51.2% of AMBC's average daily trading volume over the past month, of 402,515 shares. Especially high volume was seen for the $14 strike call option expiring August 16, 2024, with 993 contracts trading so far today, representing approximately 99,300 underlying shares of AMBC. Below is a chart showing AMBC's trailing twelve month trading history, with the $14 strike highlighted in orange:

For the various different available expirations for MRVL options, GPI options, or AMBC options, visit StockOptionsChannel.com.

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