Noteworthy Tuesday Option Activity: CMI, BIIB, BEN

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Cummins, Inc. (Symbol: CMI), where a total of 4,237 contracts have traded so far, representing approximately 423,700 underlying shares. That amounts to about 45% of CMI's average daily trading volume over the past month of 940,630 shares. Especially high volume was seen for the $250 strike put option expiring March 17, 2023, with 757 contracts trading so far today, representing approximately 75,700 underlying shares of CMI. Below is a chart showing CMI's trailing twelve month trading history, with the $250 strike highlighted in orange:

Biogen Inc (Symbol: BIIB) saw options trading volume of 4,091 contracts, representing approximately 409,100 underlying shares or approximately 43.4% of BIIB's average daily trading volume over the past month, of 942,875 shares. Especially high volume was seen for the $305 strike call option expiring June 16, 2023, with 991 contracts trading so far today, representing approximately 99,100 underlying shares of BIIB. Below is a chart showing BIIB's trailing twelve month trading history, with the $305 strike highlighted in orange:

And Franklin Resources Inc (Symbol: BEN) options are showing a volume of 12,265 contracts thus far today. That number of contracts represents approximately 1.2 million underlying shares, working out to a sizeable 43.3% of BEN's average daily trading volume over the past month, of 2.8 million shares. Particularly high volume was seen for the $30 strike put option expiring April 21, 2023, with 5,914 contracts trading so far today, representing approximately 591,400 underlying shares of BEN. Below is a chart showing BEN's trailing twelve month trading history, with the $30 strike highlighted in orange:

For the various different available expirations for CMI options, BIIB options, or BEN options, visit StockOptionsChannel.com.

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