Noteworthy Friday Option Activity: CI, ADTN, ON

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Cigna Corp (Symbol: CI), where a total volume of 8,101 contracts has been traded thus far today, a contract volume which is representative of approximately 810,100 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 50.9% of CI's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $297.50 strike put option expiring February 03, 2023, with 1,149 contracts trading so far today, representing approximately 114,900 underlying shares of CI. Below is a chart showing CI's trailing twelve month trading history, with the $297.50 strike highlighted in orange:

ADTRAN Holdings Inc (Symbol: ADTN) options are showing a volume of 2,543 contracts thus far today. That number of contracts represents approximately 254,300 underlying shares, working out to a sizeable 50.8% of ADTN's average daily trading volume over the past month, of 500,755 shares. Particularly high volume was seen for the $18 strike call option expiring February 17, 2023, with 1,500 contracts trading so far today, representing approximately 150,000 underlying shares of ADTN. Below is a chart showing ADTN's trailing twelve month trading history, with the $18 strike highlighted in orange:

And ON Semiconductor Corp (Symbol: ON) options are showing a volume of 30,422 contracts thus far today. That number of contracts represents approximately 3.0 million underlying shares, working out to a sizeable 50.5% of ON's average daily trading volume over the past month, of 6.0 million shares. Particularly high volume was seen for the $110 strike call option expiring September 15, 2023, with 1,525 contracts trading so far today, representing approximately 152,500 underlying shares of ON. Below is a chart showing ON's trailing twelve month trading history, with the $110 strike highlighted in orange:

For the various different available expirations for CI options, ADTN options, or ON options, visit StockOptionsChannel.com.

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