Noteworthy Tuesday Option Activity: AMR, SCCO, NEM

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Alpha Metallurgical Resources Inc (Symbol: AMR), where a total volume of 926 contracts has been traded thus far today, a contract volume which is representative of approximately 92,600 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 50.1% of AMR's average daily trading volume over the past month, of 184,680 shares. Particularly high volume was seen for the $290 strike put option expiring June 21, 2024, with 272 contracts trading so far today, representing approximately 27,200 underlying shares of AMR. Below is a chart showing AMR's trailing twelve month trading history, with the $290 strike highlighted in orange:

Southern Copper Corp (Symbol: SCCO) options are showing a volume of 5,939 contracts thus far today. That number of contracts represents approximately 593,900 underlying shares, working out to a sizeable 47.7% of SCCO's average daily trading volume over the past month, of 1.2 million shares. Particularly high volume was seen for the $85 strike put option expiring August 16, 2024, with 1,500 contracts trading so far today, representing approximately 150,000 underlying shares of SCCO. Below is a chart showing SCCO's trailing twelve month trading history, with the $85 strike highlighted in orange:

And Newmont Corp (Symbol: NEM) options are showing a volume of 38,511 contracts thus far today. That number of contracts represents approximately 3.9 million underlying shares, working out to a sizeable 47% of NEM's average daily trading volume over the past month, of 8.2 million shares. Particularly high volume was seen for the $45 strike call option expiring June 21, 2024, with 2,959 contracts trading so far today, representing approximately 295,900 underlying shares of NEM. Below is a chart showing NEM's trailing twelve month trading history, with the $45 strike highlighted in orange:

For the various different available expirations for AMR options, SCCO options, or NEM options, visit StockOptionsChannel.com.

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