Noteworthy Thursday Option Activity: CVNA, X, WOLF

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 59,633 contracts has been traded thus far today, a contract volume which is representative of approximately 6.0 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 72.6% of CVNA's average daily trading volume over the past month, of 8.2 million shares. Particularly high volume was seen for the $38 strike put option expiring January 26, 2024, with 11,166 contracts trading so far today, representing approximately 1.1 million underlying shares of CVNA. Below is a chart showing CVNA's trailing twelve month trading history, with the $38 strike highlighted in orange:

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United States Steel Corp. (Symbol: X) options are showing a volume of 46,184 contracts thus far today. That number of contracts represents approximately 4.6 million underlying shares, working out to a sizeable 68.9% of X's average daily trading volume over the past month, of 6.7 million shares. Especially high volume was seen for the $40 strike put option expiring January 17, 2025, with 10,018 contracts trading so far today, representing approximately 1.0 million underlying shares of X. Below is a chart showing X's trailing twelve month trading history, with the $40 strike highlighted in orange:

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And Wolfspeed Inc (Symbol: WOLF) options are showing a volume of 23,678 contracts thus far today. That number of contracts represents approximately 2.4 million underlying shares, working out to a sizeable 67.6% of WOLF's average daily trading volume over the past month, of 3.5 million shares. Especially high volume was seen for the $30 strike put option expiring January 19, 2024, with 4,965 contracts trading so far today, representing approximately 496,500 underlying shares of WOLF. Below is a chart showing WOLF's trailing twelve month trading history, with the $30 strike highlighted in orange:

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For the various different available expirations for CVNA options, X options, or WOLF options, visit StockOptionsChannel.com.

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