Noteworthy Friday Option Activity: PEP, CBOE, ILMN

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in PepsiCo Inc (Symbol: PEP), where a total volume of 30,668 contracts has been traded thus far today, a contract volume which is representative of approximately 3.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 45.9% of PEP's average daily trading volume over the past month, of 6.7 million shares. Especially high volume was seen for the $167.50 strike put option expiring November 10, 2023, with 5,349 contracts trading so far today, representing approximately 534,900 underlying shares of PEP. Below is a chart showing PEP's trailing twelve month trading history, with the $167.50 strike highlighted in orange:

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Cboe Global Markets Inc (Symbol: CBOE) options are showing a volume of 3,425 contracts thus far today. That number of contracts represents approximately 342,500 underlying shares, working out to a sizeable 43.8% of CBOE's average daily trading volume over the past month, of 782,700 shares. Especially high volume was seen for the $140 strike put option expiring December 22, 2023, with 331 contracts trading so far today, representing approximately 33,100 underlying shares of CBOE. Below is a chart showing CBOE's trailing twelve month trading history, with the $140 strike highlighted in orange:

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And Illumina Inc (Symbol: ILMN) options are showing a volume of 7,505 contracts thus far today. That number of contracts represents approximately 750,500 underlying shares, working out to a sizeable 43.2% of ILMN's average daily trading volume over the past month, of 1.7 million shares. Particularly high volume was seen for the $115 strike put option expiring November 17, 2023, with 1,953 contracts trading so far today, representing approximately 195,300 underlying shares of ILMN. Below is a chart showing ILMN's trailing twelve month trading history, with the $115 strike highlighted in orange:

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