Notable Wednesday Option Activity: PARA, NXT, CMP

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Paramount Global (Symbol: PARA), where a total volume of 79,908 contracts has been traded thus far today, a contract volume which is representative of approximately 8.0 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 45.6% of PARA's average daily trading volume over the past month, of 17.5 million shares. Particularly high volume was seen for the $16.50 strike call option expiring December 22, 2023, with 10,984 contracts trading so far today, representing approximately 1.1 million underlying shares of PARA. Below is a chart showing PARA's trailing twelve month trading history, with the $16.50 strike highlighted in orange:

Nextracker Inc (Symbol: NXT) options are showing a volume of 7,899 contracts thus far today. That number of contracts represents approximately 789,900 underlying shares, working out to a sizeable 45% of NXT's average daily trading volume over the past month, of 1.8 million shares. Particularly high volume was seen for the $40 strike put option expiring January 19, 2024, with 3,161 contracts trading so far today, representing approximately 316,100 underlying shares of NXT. Below is a chart showing NXT's trailing twelve month trading history, with the $40 strike highlighted in orange:

And Compass Minerals International Inc (Symbol: CMP) options are showing a volume of 1,933 contracts thus far today. That number of contracts represents approximately 193,300 underlying shares, working out to a sizeable 43.4% of CMP's average daily trading volume over the past month, of 445,480 shares. Especially high volume was seen for the $20 strike put option expiring March 15, 2024, with 1,111 contracts trading so far today, representing approximately 111,100 underlying shares of CMP. Below is a chart showing CMP's trailing twelve month trading history, with the $20 strike highlighted in orange:

For the various different available expirations for PARA options, NXT options, or CMP options, visit StockOptionsChannel.com.

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