Noteworthy Thursday Option Activity: AMD, ABT, STX

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Advanced Micro Devices Inc (Symbol: AMD), where a total volume of 423,555 contracts has been traded thus far today, a contract volume which is representative of approximately 42.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 54.4% of AMD's average daily trading volume over the past month, of 77.9 million shares. Especially high volume was seen for the $65 strike put option expiring September 30, 2022, with 29,576 contracts trading so far today, representing approximately 3.0 million underlying shares of AMD. Below is a chart showing AMD's trailing twelve month trading history, with the $65 strike highlighted in orange:

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Abbott Laboratories (Symbol: ABT) saw options trading volume of 28,708 contracts, representing approximately 2.9 million underlying shares or approximately 51.7% of ABT's average daily trading volume over the past month, of 5.5 million shares. Particularly high volume was seen for the $75 strike put option expiring November 18, 2022, with 10,743 contracts trading so far today, representing approximately 1.1 million underlying shares of ABT. Below is a chart showing ABT's trailing twelve month trading history, with the $75 strike highlighted in orange:

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And Seagate Technology Holdings PLC (Symbol: STX) options are showing a volume of 11,775 contracts thus far today. That number of contracts represents approximately 1.2 million underlying shares, working out to a sizeable 48.2% of STX's average daily trading volume over the past month, of 2.4 million shares. Particularly high volume was seen for the $37.50 strike put option expiring March 17, 2023, with 1,752 contracts trading so far today, representing approximately 175,200 underlying shares of STX. Below is a chart showing STX's trailing twelve month trading history, with the $37.50 strike highlighted in orange:

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