Noteworthy Thursday Option Activity: MP, SWBI, SPOT

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in MP Materials Corp (Symbol: MP), where a total volume of 27,728 contracts has been traded thus far today, a contract volume which is representative of approximately 2.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 99.5% of MP's average daily trading volume over the past month, of 2.8 million shares. Particularly high volume was seen for the $20 strike call option expiring January 19, 2024, with 15,633 contracts trading so far today, representing approximately 1.6 million underlying shares of MP. Below is a chart showing MP's trailing twelve month trading history, with the $20 strike highlighted in orange:

Smith & Wesson Brands Inc (Symbol: SWBI) options are showing a volume of 6,313 contracts thus far today. That number of contracts represents approximately 631,300 underlying shares, working out to a sizeable 92.9% of SWBI's average daily trading volume over the past month, of 679,680 shares. Particularly high volume was seen for the $15 strike call option expiring June 21, 2024, with 1,250 contracts trading so far today, representing approximately 125,000 underlying shares of SWBI. Below is a chart showing SWBI's trailing twelve month trading history, with the $15 strike highlighted in orange:

And Spotify Technology SA (Symbol: SPOT) saw options trading volume of 14,966 contracts, representing approximately 1.5 million underlying shares or approximately 80% of SPOT's average daily trading volume over the past month, of 1.9 million shares. Especially high volume was seen for the $200 strike call option expiring February 02, 2024, with 1,978 contracts trading so far today, representing approximately 197,800 underlying shares of SPOT. Below is a chart showing SPOT's trailing twelve month trading history, with the $200 strike highlighted in orange:

For the various different available expirations for MP options, SWBI options, or SPOT options, visit StockOptionsChannel.com.

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