Noteworthy Monday Option Activity: SOFI, CSTM, ALGM

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in SoFi Technologies Inc (Symbol: SOFI), where a total of 186,162 contracts have traded so far, representing approximately 18.6 million underlying shares. That amounts to about 52% of SOFI's average daily trading volume over the past month of 35.8 million shares. Particularly high volume was seen for the $8 strike call option expiring November 10, 2023, with 15,769 contracts trading so far today, representing approximately 1.6 million underlying shares of SOFI. Below is a chart showing SOFI's trailing twelve month trading history, with the $8 strike highlighted in orange:

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Constellium SE (Symbol: CSTM) options are showing a volume of 5,132 contracts thus far today. That number of contracts represents approximately 513,200 underlying shares, working out to a sizeable 51.4% of CSTM's average daily trading volume over the past month, of 999,395 shares. Especially high volume was seen for the $16 strike put option expiring November 17, 2023, with 3,000 contracts trading so far today, representing approximately 300,000 underlying shares of CSTM. Below is a chart showing CSTM's trailing twelve month trading history, with the $16 strike highlighted in orange:

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And Allegro MicroSystems Inc (Symbol: ALGM) options are showing a volume of 7,032 contracts thus far today. That number of contracts represents approximately 703,200 underlying shares, working out to a sizeable 51.3% of ALGM's average daily trading volume over the past month, of 1.4 million shares. Particularly high volume was seen for the $22.50 strike put option expiring December 15, 2023, with 5,005 contracts trading so far today, representing approximately 500,500 underlying shares of ALGM. Below is a chart showing ALGM's trailing twelve month trading history, with the $22.50 strike highlighted in orange:

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For the various different available expirations for SOFI options, CSTM options, or ALGM options, visit StockOptionsChannel.com.

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