Noteworthy Wednesday Option Activity: DUOL, ALGM, SPHR

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Duolingo Inc (Symbol: DUOL), where a total volume of 4,325 contracts has been traded thus far today, a contract volume which is representative of approximately 432,500 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 107.9% of DUOL's average daily trading volume over the past month, of 401,015 shares. Particularly high volume was seen for the $260 strike call option expiring October 18, 2024, with 962 contracts trading so far today, representing approximately 96,200 underlying shares of DUOL. Below is a chart showing DUOL's trailing twelve month trading history, with the $260 strike highlighted in orange:

Allegro MicroSystems Inc (Symbol: ALGM) options are showing a volume of 18,850 contracts thus far today. That number of contracts represents approximately 1.9 million underlying shares, working out to a sizeable 100% of ALGM's average daily trading volume over the past month, of 1.9 million shares. Especially high volume was seen for the $17.50 strike put option expiring November 15, 2024, with 18,502 contracts trading so far today, representing approximately 1.9 million underlying shares of ALGM. Below is a chart showing ALGM's trailing twelve month trading history, with the $17.50 strike highlighted in orange:

And Sphere Entertainment Co (Symbol: SPHR) saw options trading volume of 6,834 contracts, representing approximately 683,400 underlying shares or approximately 90.7% of SPHR's average daily trading volume over the past month, of 753,500 shares. Especially high volume was seen for the $65 strike call option expiring November 15, 2024, with 3,151 contracts trading so far today, representing approximately 315,100 underlying shares of SPHR. Below is a chart showing SPHR's trailing twelve month trading history, with the $65 strike highlighted in orange:

For the various different available expirations for DUOL options, ALGM options, or SPHR options, visit StockOptionsChannel.com.

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