Markets

Noteworthy Thursday Option Activity: CVNA, CLDR, CNX

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Carvana Co (Symbol: CVNA), where a total volume of 11,698 contracts has been traded thus far today, a contract volume which is representative of approximately 1.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 69.9% of CVNA's average daily trading volume over the past month, of 1.7 million shares. Especially high volume was seen for the $50 strike put option expiring August 16, 2019, with 5,180 contracts trading so far today, representing approximately 518,000 underlying shares of CVNA. Below is a chart showing CVNA's trailing twelve month trading history, with the $50 strike highlighted in orange:

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Cloudera Inc (Symbol: CLDR) options are showing a volume of 18,520 contracts thus far today. That number of contracts represents approximately 1.9 million underlying shares, working out to a sizeable 61.6% of CLDR's average daily trading volume over the past month, of 3.0 million shares. Especially high volume was seen for the $10 strike put option expiring January 17, 2020, with 10,037 contracts trading so far today, representing approximately 1.0 million underlying shares of CLDR. Below is a chart showing CLDR's trailing twelve month trading history, with the $10 strike highlighted in orange:

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And CNX Resources Corp (Symbol: CNX) options are showing a volume of 27,595 contracts thus far today. That number of contracts represents approximately 2.8 million underlying shares, working out to a sizeable 60% of CNX's average daily trading volume over the past month, of 4.6 million shares. Particularly high volume was seen for the $6 strike put option expiring January 17, 2020, with 20,150 contracts trading so far today, representing approximately 2.0 million underlying shares of CNX. Below is a chart showing CNX's trailing twelve month trading history, with the $6 strike highlighted in orange:

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For the various different available expirations for CVNA options, CLDR options, or CNX options, visit StockOptionsChannel.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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