Noteworthy Tuesday Option Activity: PYPL, TSLA, WDC

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in PayPal Holdings Inc (Symbol: PYPL), where a total volume of 174,398 contracts has been traded thus far today, a contract volume which is representative of approximately 17.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 96% of PYPL's average daily trading volume over the past month, of 18.2 million shares. Especially high volume was seen for the $65 strike call option expiring January 26, 2024, with 7,938 contracts trading so far today, representing approximately 793,800 underlying shares of PYPL. Below is a chart showing PYPL's trailing twelve month trading history, with the $65 strike highlighted in orange:

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Tesla Inc (Symbol: TSLA) saw options trading volume of 952,944 contracts, representing approximately 95.3 million underlying shares or approximately 91.6% of TSLA's average daily trading volume over the past month, of 104.1 million shares. Particularly high volume was seen for the $215 strike call option expiring January 26, 2024, with 42,569 contracts trading so far today, representing approximately 4.3 million underlying shares of TSLA. Below is a chart showing TSLA's trailing twelve month trading history, with the $215 strike highlighted in orange:

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And Western Digital Corp (Symbol: WDC) options are showing a volume of 46,619 contracts thus far today. That number of contracts represents approximately 4.7 million underlying shares, working out to a sizeable 90.1% of WDC's average daily trading volume over the past month, of 5.2 million shares. Particularly high volume was seen for the $68 strike call option expiring February 02, 2024, with 4,186 contracts trading so far today, representing approximately 418,600 underlying shares of WDC. Below is a chart showing WDC's trailing twelve month trading history, with the $68 strike highlighted in orange:

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For the various different available expirations for PYPL options, TSLA options, or WDC options, visit StockOptionsChannel.com.

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