Noteworthy Tuesday Option Activity: CACC, CHGG, MSFT

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Credit Acceptance Corp (Symbol: CACC), where a total of 799 contracts have traded so far, representing approximately 79,900 underlying shares. That amounts to about 118.3% of CACC's average daily trading volume over the past month of 67,550 shares. Particularly high volume was seen for the $420 strike put option expiring May 19, 2023, with 60 contracts trading so far today, representing approximately 6,000 underlying shares of CACC. Below is a chart showing CACC's trailing twelve month trading history, with the $420 strike highlighted in orange:

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Chegg Inc (Symbol: CHGG) options are showing a volume of 36,772 contracts thus far today. That number of contracts represents approximately 3.7 million underlying shares, working out to a sizeable 117.8% of CHGG's average daily trading volume over the past month, of 3.1 million shares. Especially high volume was seen for the $10 strike call option expiring May 19, 2023, with 3,312 contracts trading so far today, representing approximately 331,200 underlying shares of CHGG. Below is a chart showing CHGG's trailing twelve month trading history, with the $10 strike highlighted in orange:

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And Microsoft Corporation (Symbol: MSFT) options are showing a volume of 334,276 contracts thus far today. That number of contracts represents approximately 33.4 million underlying shares, working out to a sizeable 116.7% of MSFT's average daily trading volume over the past month, of 28.6 million shares. Especially high volume was seen for the $310 strike call option expiring May 05, 2023, with 39,775 contracts trading so far today, representing approximately 4.0 million underlying shares of MSFT. Below is a chart showing MSFT's trailing twelve month trading history, with the $310 strike highlighted in orange:

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For the various different available expirations for CACC options, CHGG options, or MSFT options, visit StockOptionsChannel.com.

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