Noteworthy Friday Option Activity: TPB, PTEN, CSCO

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Turning Point Brands Inc (Symbol: TPB), where a total volume of 556 contracts has been traded thus far today, a contract volume which is representative of approximately 55,600 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 54.3% of TPB's average daily trading volume over the past month, of 102,315 shares. Especially high volume was seen for the $45 strike call option expiring October 18, 2024, with 246 contracts trading so far today, representing approximately 24,600 underlying shares of TPB. Below is a chart showing TPB's trailing twelve month trading history, with the $45 strike highlighted in orange:

Patterson-UTI Energy Inc. (Symbol: PTEN) options are showing a volume of 30,278 contracts thus far today. That number of contracts represents approximately 3.0 million underlying shares, working out to a sizeable 53.7% of PTEN's average daily trading volume over the past month, of 5.6 million shares. Particularly high volume was seen for the $9 strike put option expiring October 18, 2024, with 15,091 contracts trading so far today, representing approximately 1.5 million underlying shares of PTEN. Below is a chart showing PTEN's trailing twelve month trading history, with the $9 strike highlighted in orange:

And Cisco Systems Inc (Symbol: CSCO) options are showing a volume of 79,976 contracts thus far today. That number of contracts represents approximately 8.0 million underlying shares, working out to a sizeable 53.2% of CSCO's average daily trading volume over the past month, of 15.0 million shares. Especially high volume was seen for the $53 strike call option expiring September 27, 2024, with 12,890 contracts trading so far today, representing approximately 1.3 million underlying shares of CSCO. Below is a chart showing CSCO's trailing twelve month trading history, with the $53 strike highlighted in orange:

For the various different available expirations for TPB options, PTEN options, or CSCO options, visit StockOptionsChannel.com.

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