Notable Wednesday Option Activity: PAG, RBA, POWL

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Penske Automotive Group Inc (Symbol: PAG), where a total volume of 1,843 contracts has been traded thus far today, a contract volume which is representative of approximately 184,300 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 61.9% of PAG's average daily trading volume over the past month, of 297,615 shares. Particularly high volume was seen for the $170 strike put option expiring August 18, 2023, with 543 contracts trading so far today, representing approximately 54,300 underlying shares of PAG. Below is a chart showing PAG's trailing twelve month trading history, with the $170 strike highlighted in orange:

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RB Global Inc (Symbol: RBA) options are showing a volume of 5,369 contracts thus far today. That number of contracts represents approximately 536,900 underlying shares, working out to a sizeable 61.7% of RBA's average daily trading volume over the past month, of 869,930 shares. Especially high volume was seen for the $65 strike call option expiring December 15, 2023, with 2,002 contracts trading so far today, representing approximately 200,200 underlying shares of RBA. Below is a chart showing RBA's trailing twelve month trading history, with the $65 strike highlighted in orange:

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And Powell Industries, Inc. (Symbol: POWL) saw options trading volume of 522 contracts, representing approximately 52,200 underlying shares or approximately 61.5% of POWL's average daily trading volume over the past month, of 84,830 shares. Particularly high volume was seen for the $90 strike call option expiring August 18, 2023, with 99 contracts trading so far today, representing approximately 9,900 underlying shares of POWL. Below is a chart showing POWL's trailing twelve month trading history, with the $90 strike highlighted in orange:

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For the various different available expirations for PAG options, RBA options, or POWL options, visit StockOptionsChannel.com.

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