Noteworthy Tuesday Option Activity: WM, MSM, ADP

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Waste Management, Inc. (Symbol: WM), where a total volume of 6,801 contracts has been traded thus far today, a contract volume which is representative of approximately 680,100 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 47.5% of WM's average daily trading volume over the past month, of 1.4 million shares. Particularly high volume was seen for the $165 strike call option expiring October 27, 2023, with 1,505 contracts trading so far today, representing approximately 150,500 underlying shares of WM. Below is a chart showing WM's trailing twelve month trading history, with the $165 strike highlighted in orange:

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MSC Industrial Direct Co Inc (Symbol: MSM) options are showing a volume of 2,107 contracts thus far today. That number of contracts represents approximately 210,700 underlying shares, working out to a sizeable 44.8% of MSM's average daily trading volume over the past month, of 470,835 shares. Especially high volume was seen for the $105 strike call option expiring November 17, 2023, with 1,000 contracts trading so far today, representing approximately 100,000 underlying shares of MSM. Below is a chart showing MSM's trailing twelve month trading history, with the $105 strike highlighted in orange:

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And Automatic Data Processing Inc. (Symbol: ADP) options are showing a volume of 5,668 contracts thus far today. That number of contracts represents approximately 566,800 underlying shares, working out to a sizeable 42.7% of ADP's average daily trading volume over the past month, of 1.3 million shares. Especially high volume was seen for the $230 strike put option expiring November 17, 2023, with 1,602 contracts trading so far today, representing approximately 160,200 underlying shares of ADP. Below is a chart showing ADP's trailing twelve month trading history, with the $230 strike highlighted in orange:

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For the various different available expirations for WM options, MSM options, or ADP options, visit StockOptionsChannel.com.

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