Noteworthy Monday Option Activity: SLAB, NSC, PANW

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Silicon Laboratories Inc (Symbol: SLAB), where a total volume of 1,666 contracts has been traded thus far today, a contract volume which is representative of approximately 166,600 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 59.3% of SLAB's average daily trading volume over the past month, of 280,860 shares. Especially high volume was seen for the $110 strike call option expiring October 20, 2023, with 768 contracts trading so far today, representing approximately 76,800 underlying shares of SLAB. Below is a chart showing SLAB's trailing twelve month trading history, with the $110 strike highlighted in orange:

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Norfolk Southern Corp (Symbol: NSC) saw options trading volume of 6,179 contracts, representing approximately 617,900 underlying shares or approximately 55.6% of NSC's average daily trading volume over the past month, of 1.1 million shares. Especially high volume was seen for the $210 strike put option expiring December 15, 2023, with 1,075 contracts trading so far today, representing approximately 107,500 underlying shares of NSC. Below is a chart showing NSC's trailing twelve month trading history, with the $210 strike highlighted in orange:

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And Palo Alto Networks, Inc (Symbol: PANW) options are showing a volume of 14,435 contracts thus far today. That number of contracts represents approximately 1.4 million underlying shares, working out to a sizeable 52.9% of PANW's average daily trading volume over the past month, of 2.7 million shares. Particularly high volume was seen for the $200 strike put option expiring March 15, 2024, with 1,000 contracts trading so far today, representing approximately 100,000 underlying shares of PANW. Below is a chart showing PANW's trailing twelve month trading history, with the $200 strike highlighted in orange:

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For the various different available expirations for SLAB options, NSC options, or PANW options, visit StockOptionsChannel.com.

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