Noteworthy Friday Option Activity: CAKE, NTNX, HD

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Cheesecake Factory Inc. (Symbol: CAKE), where a total volume of 10,356 contracts has been traded thus far today, a contract volume which is representative of approximately 1.0 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 99.5% of CAKE's average daily trading volume over the past month, of 1.0 million shares. Especially high volume was seen for the $37.50 strike call option expiring February 17, 2023, with 3,010 contracts trading so far today, representing approximately 301,000 underlying shares of CAKE. Below is a chart showing CAKE's trailing twelve month trading history, with the $37.50 strike highlighted in orange:

Nutanix Inc (Symbol: NTNX) options are showing a volume of 25,523 contracts thus far today. That number of contracts represents approximately 2.6 million underlying shares, working out to a sizeable 96.9% of NTNX's average daily trading volume over the past month, of 2.6 million shares. Particularly high volume was seen for the $32.50 strike call option expiring April 21, 2023, with 10,754 contracts trading so far today, representing approximately 1.1 million underlying shares of NTNX. Below is a chart showing NTNX's trailing twelve month trading history, with the $32.50 strike highlighted in orange:

And Home Depot Inc (Symbol: HD) options are showing a volume of 29,154 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 90.9% of HD's average daily trading volume over the past month, of 3.2 million shares. Especially high volume was seen for the $332.50 strike call option expiring January 13, 2023, with 1,994 contracts trading so far today, representing approximately 199,400 underlying shares of HD. Below is a chart showing HD's trailing twelve month trading history, with the $332.50 strike highlighted in orange:

For the various different available expirations for CAKE options, NTNX options, or HD options, visit StockOptionsChannel.com.

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