Noteworthy Thursday Option Activity: UBER, SBUX, CVNA

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Uber Technologies Inc (Symbol: UBER), where a total volume of 115,884 contracts has been traded thus far today, a contract volume which is representative of approximately 11.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 71.2% of UBER's average daily trading volume over the past month, of 16.3 million shares. Particularly high volume was seen for the $47.50 strike call option expiring November 17, 2023, with 9,006 contracts trading so far today, representing approximately 900,600 underlying shares of UBER. Below is a chart showing UBER's trailing twelve month trading history, with the $47.50 strike highlighted in orange:

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Starbucks Corp. (Symbol: SBUX) saw options trading volume of 41,711 contracts, representing approximately 4.2 million underlying shares or approximately 71.2% of SBUX's average daily trading volume over the past month, of 5.9 million shares. Particularly high volume was seen for the $108 strike call option expiring October 20, 2023, with 14,549 contracts trading so far today, representing approximately 1.5 million underlying shares of SBUX. Below is a chart showing SBUX's trailing twelve month trading history, with the $108 strike highlighted in orange:

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And Carvana Co (Symbol: CVNA) options are showing a volume of 77,407 contracts thus far today. That number of contracts represents approximately 7.7 million underlying shares, working out to a sizeable 71.1% of CVNA's average daily trading volume over the past month, of 10.9 million shares. Especially high volume was seen for the $100 strike call option expiring January 19, 2024, with 5,167 contracts trading so far today, representing approximately 516,700 underlying shares of CVNA. Below is a chart showing CVNA's trailing twelve month trading history, with the $100 strike highlighted in orange:

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For the various different available expirations for UBER options, SBUX options, or CVNA options, visit StockOptionsChannel.com.

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