Markets

Noteworthy Thursday Option Activity: SAVA, FDX, BGCP

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Cassava Sciences Inc (Symbol: SAVA), where a total volume of 8,211 contracts has been traded thus far today, a contract volume which is representative of approximately 821,100 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 58% of SAVA's average daily trading volume over the past month, of 1.4 million shares. Particularly high volume was seen for the $55 strike call option expiring May 21, 2021, with 2,399 contracts trading so far today, representing approximately 239,900 underlying shares of SAVA. Below is a chart showing SAVA's trailing twelve month trading history, with the $55 strike highlighted in orange:

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FedEx Corp (Symbol: FDX) options are showing a volume of 11,506 contracts thus far today. That number of contracts represents approximately 1.2 million underlying shares, working out to a sizeable 56% of FDX's average daily trading volume over the past month, of 2.1 million shares. Especially high volume was seen for the $315 strike call option expiring May 21, 2021, with 1,183 contracts trading so far today, representing approximately 118,300 underlying shares of FDX. Below is a chart showing FDX's trailing twelve month trading history, with the $315 strike highlighted in orange:

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And BGC Partners Inc - Class A (Symbol: BGCP) options are showing a volume of 21,991 contracts thus far today. That number of contracts represents approximately 2.2 million underlying shares, working out to a sizeable 52.8% of BGCP's average daily trading volume over the past month, of 4.2 million shares. Especially high volume was seen for the $6 strike call option expiring July 16, 2021, with 8,631 contracts trading so far today, representing approximately 863,100 underlying shares of BGCP. Below is a chart showing BGCP's trailing twelve month trading history, with the $6 strike highlighted in orange:

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For the various different available expirations for SAVA options, FDX options, or BGCP 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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