Noteworthy Wednesday Option Activity: FIP, MRK, PENN

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in FTAI Infrastructure Inc (Symbol: FIP), where a total volume of 6,523 contracts has been traded thus far today, a contract volume which is representative of approximately 652,300 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 48.9% of FIP's average daily trading volume over the past month, of 1.3 million shares. Particularly high volume was seen for the $7 strike call option expiring July 18, 2025, with 3,547 contracts trading so far today, representing approximately 354,700 underlying shares of FIP. Below is a chart showing FIP's trailing twelve month trading history, with the $7 strike highlighted in orange:

Merck & Co Inc (Symbol: MRK) saw options trading volume of 64,705 contracts, representing approximately 6.5 million underlying shares or approximately 48.4% of MRK's average daily trading volume over the past month, of 13.4 million shares. Especially high volume was seen for the $75 strike put option expiring August 15, 2025, with 15,456 contracts trading so far today, representing approximately 1.5 million underlying shares of MRK. Below is a chart showing MRK's trailing twelve month trading history, with the $75 strike highlighted in orange:

And PENN Entertainment Inc (Symbol: PENN) options are showing a volume of 19,624 contracts thus far today. That number of contracts represents approximately 2.0 million underlying shares, working out to a sizeable 47.2% of PENN's average daily trading volume over the past month, of 4.2 million shares. Particularly high volume was seen for the $17 strike call option expiring June 20, 2025, with 7,372 contracts trading so far today, representing approximately 737,200 underlying shares of PENN. Below is a chart showing PENN's trailing twelve month trading history, with the $17 strike highlighted in orange:

For the various different available expirations for FIP options, MRK options, or PENN options, visit StockOptionsChannel.com.

Today's Most Active Call & Put Options of the S&P 500 »

Also see:

• COBK Historical Stock Prices
• MCEP shares outstanding history
• PSLV Average Annual Return

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.