Markets

Noteworthy Friday Option Activity: PZZA, ZS, SHAK

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Papa John's International, Inc. (Symbol: PZZA), where a total volume of 2,747 contracts has been traded thus far today, a contract volume which is representative of approximately 274,700 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 49.2% of PZZA's average daily trading volume over the past month, of 558,895 shares. Especially high volume was seen for the $90 strike call option expiring October 16, 2020, with 888 contracts trading so far today, representing approximately 88,800 underlying shares of PZZA. Below is a chart showing PZZA's trailing twelve month trading history, with the $90 strike highlighted in orange:

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Zscaler Inc (Symbol: ZS) options are showing a volume of 9,753 contracts thus far today. That number of contracts represents approximately 975,300 underlying shares, working out to a sizeable 48.5% of ZS's average daily trading volume over the past month, of 2.0 million shares. Particularly high volume was seen for the $143 strike call option expiring August 28, 2020, with 577 contracts trading so far today, representing approximately 57,700 underlying shares of ZS. Below is a chart showing ZS's trailing twelve month trading history, with the $143 strike highlighted in orange:

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And Shake Shack Inc (Symbol: SHAK) options are showing a volume of 8,033 contracts thus far today. That number of contracts represents approximately 803,300 underlying shares, working out to a sizeable 48.3% of SHAK's average daily trading volume over the past month, of 1.7 million shares. Particularly high volume was seen for the $65 strike call option expiring September 18, 2020, with 717 contracts trading so far today, representing approximately 71,700 underlying shares of SHAK. Below is a chart showing SHAK's trailing twelve month trading history, with the $65 strike highlighted in orange:

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For the various different available expirations for PZZA options, ZS options, or SHAK options, visit StockOptionsChannel.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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