Notable Wednesday Option Activity: NVDA, NFLX, COST

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in NVIDIA Corp (Symbol: NVDA), where a total volume of 954,698 contracts has been traded thus far today, a contract volume which is representative of approximately 95.5 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 209.8% of NVDA's average daily trading volume over the past month, of 45.5 million shares. Particularly high volume was seen for the $440 strike call option expiring July 14, 2023, with 57,369 contracts trading so far today, representing approximately 5.7 million underlying shares of NVDA. Below is a chart showing NVDA's trailing twelve month trading history, with the $440 strike highlighted in orange:

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Netflix Inc (Symbol: NFLX) saw options trading volume of 125,907 contracts, representing approximately 12.6 million underlying shares or approximately 209.5% of NFLX's average daily trading volume over the past month, of 6.0 million shares. Especially high volume was seen for the $450 strike call option expiring July 14, 2023, with 11,310 contracts trading so far today, representing approximately 1.1 million underlying shares of NFLX. Below is a chart showing NFLX's trailing twelve month trading history, with the $450 strike highlighted in orange:

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And Costco Wholesale Corp (Symbol: COST) options are showing a volume of 32,619 contracts thus far today. That number of contracts represents approximately 3.3 million underlying shares, working out to a sizeable 198.8% of COST's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $540 strike call option expiring July 14, 2023, with 3,509 contracts trading so far today, representing approximately 350,900 underlying shares of COST. Below is a chart showing COST's trailing twelve month trading history, with the $540 strike highlighted in orange:

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For the various different available expirations for NVDA options, NFLX options, or COST options, visit StockOptionsChannel.com.

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