Noteworthy Monday Option Activity: NFLX, ARCH, EGHT

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Netflix Inc (Symbol: NFLX), where a total volume of 63,607 contracts has been traded thus far today, a contract volume which is representative of approximately 6.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 112.1% of NFLX's average daily trading volume over the past month, of 5.7 million shares. Particularly high volume was seen for the $335 strike put option expiring April 14, 2022, with 3,078 contracts trading so far today, representing approximately 307,800 underlying shares of NFLX. Below is a chart showing NFLX's trailing twelve month trading history, with the $335 strike highlighted in orange:

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Arch Resources Inc (Symbol: ARCH) saw options trading volume of 9,659 contracts, representing approximately 965,900 underlying shares or approximately 104% of ARCH's average daily trading volume over the past month, of 928,390 shares. Particularly high volume was seen for the $160 strike call option expiring August 19, 2022, with 3,330 contracts trading so far today, representing approximately 333,000 underlying shares of ARCH. Below is a chart showing ARCH's trailing twelve month trading history, with the $160 strike highlighted in orange:

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And 8x8 Inc (Symbol: EGHT) options are showing a volume of 17,926 contracts thus far today. That number of contracts represents approximately 1.8 million underlying shares, working out to a sizeable 97.4% of EGHT's average daily trading volume over the past month, of 1.8 million shares. Especially high volume was seen for the $15 strike call option expiring March 18, 2022, with 8,470 contracts trading so far today, representing approximately 847,000 underlying shares of EGHT. Below is a chart showing EGHT's trailing twelve month trading history, with the $15 strike highlighted in orange:

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