Noteworthy Monday Option Activity: CLF, FL, GCI

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Cleveland-Cliffs Inc (Symbol: CLF), where a total volume of 43,509 contracts has been traded thus far today, a contract volume which is representative of approximately 4.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 48.6% of CLF's average daily trading volume over the past month, of 9.0 million shares. Especially high volume was seen for the $14 strike call option expiring August 30, 2024, with 15,833 contracts trading so far today, representing approximately 1.6 million underlying shares of CLF. Below is a chart showing CLF's trailing twelve month trading history, with the $14 strike highlighted in orange:

Foot Locker, Inc. (Symbol: FL) saw options trading volume of 12,330 contracts, representing approximately 1.2 million underlying shares or approximately 47.3% of FL's average daily trading volume over the past month, of 2.6 million shares. Especially high volume was seen for the $36 strike call option expiring August 30, 2024, with 1,777 contracts trading so far today, representing approximately 177,700 underlying shares of FL. Below is a chart showing FL's trailing twelve month trading history, with the $36 strike highlighted in orange:

And Gannett Co Inc (Symbol: GCI) saw options trading volume of 7,496 contracts, representing approximately 749,600 underlying shares or approximately 47.3% of GCI's average daily trading volume over the past month, of 1.6 million shares. Particularly high volume was seen for the $6 strike call option expiring January 17, 2025, with 2,501 contracts trading so far today, representing approximately 250,100 underlying shares of GCI. Below is a chart showing GCI's trailing twelve month trading history, with the $6 strike highlighted in orange:

For the various different available expirations for CLF options, FL options, or GCI options, visit StockOptionsChannel.com.

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