Noteworthy Monday Option Activity: PZZA, COST, MSFT

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Papa John's International, Inc. (Symbol: PZZA), where a total volume of 10,324 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 147.1% of PZZA's average daily trading volume over the past month, of 701,965 shares. Especially high volume was seen for the $65 strike put option expiring March 15, 2024, with 4,946 contracts trading so far today, representing approximately 494,600 underlying shares of PZZA. Below is a chart showing PZZA's trailing twelve month trading history, with the $65 strike highlighted in orange:

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Costco Wholesale Corp (Symbol: COST) options are showing a volume of 26,273 contracts thus far today. That number of contracts represents approximately 2.6 million underlying shares, working out to a sizeable 125.5% of COST's average daily trading volume over the past month, of 2.1 million shares. Particularly high volume was seen for the $675 strike put option expiring February 02, 2024, with 1,509 contracts trading so far today, representing approximately 150,900 underlying shares of COST. Below is a chart showing COST's trailing twelve month trading history, with the $675 strike highlighted in orange:

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And Microsoft Corporation (Symbol: MSFT) saw options trading volume of 277,154 contracts, representing approximately 27.7 million underlying shares or approximately 121.6% of MSFT's average daily trading volume over the past month, of 22.8 million shares. Particularly high volume was seen for the $410 strike call option expiring February 02, 2024, with 9,269 contracts trading so far today, representing approximately 926,900 underlying shares of MSFT. Below is a chart showing MSFT's trailing twelve month trading history, with the $410 strike highlighted in orange:

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For the various different available expirations for PZZA options, COST options, or MSFT options, visit StockOptionsChannel.com.

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