Markets

Noteworthy Friday Option Activity: SMCI, TGT, CLF

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Super Micro Computer Inc (Symbol: SMCI), where a total of 1,021 contracts have traded so far, representing approximately 102,100 underlying shares. That amounts to about 60.9% of SMCI's average daily trading volume over the past month of 167,670 shares. Especially high volume was seen for the $30 strike put option expiring November 20, 2020, with 1,005 contracts trading so far today, representing approximately 100,500 underlying shares of SMCI. Below is a chart showing SMCI's trailing twelve month trading history, with the $30 strike highlighted in orange:

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Target Corp (Symbol: TGT) options are showing a volume of 16,957 contracts thus far today. That number of contracts represents approximately 1.7 million underlying shares, working out to a sizeable 60.5% of TGT's average daily trading volume over the past month, of 2.8 million shares. Particularly high volume was seen for the $160 strike call option expiring January 15, 2021, with 1,028 contracts trading so far today, representing approximately 102,800 underlying shares of TGT. Below is a chart showing TGT's trailing twelve month trading history, with the $160 strike highlighted in orange:

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And Cleveland-Cliffs Inc (Symbol: CLF) saw options trading volume of 68,531 contracts, representing approximately 6.9 million underlying shares or approximately 59.5% of CLF's average daily trading volume over the past month, of 11.5 million shares. Particularly high volume was seen for the $8.50 strike call option expiring October 23, 2020, with 6,415 contracts trading so far today, representing approximately 641,500 underlying shares of CLF. Below is a chart showing CLF's trailing twelve month trading history, with the $8.50 strike highlighted in orange:

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For the various different available expirations for SMCI options, TGT options, or CLF 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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