Noteworthy Wednesday Option Activity: LLY, NVT, ALB

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Eli Lilly (Symbol: LLY), where a total volume of 24,376 contracts has been traded thus far today, a contract volume which is representative of approximately 2.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 58.8% of LLY's average daily trading volume over the past month, of 4.1 million shares. Especially high volume was seen for the $900 strike call option expiring February 14, 2025, with 3,041 contracts trading so far today, representing approximately 304,100 underlying shares of LLY. Below is a chart showing LLY's trailing twelve month trading history, with the $900 strike highlighted in orange:

nVent Electric PLC (Symbol: NVT) options are showing a volume of 15,817 contracts thus far today. That number of contracts represents approximately 1.6 million underlying shares, working out to a sizeable 58.8% of NVT's average daily trading volume over the past month, of 2.7 million shares. Particularly high volume was seen for the $75 strike call option expiring May 16, 2025, with 7,515 contracts trading so far today, representing approximately 751,500 underlying shares of NVT. Below is a chart showing NVT's trailing twelve month trading history, with the $75 strike highlighted in orange:

And Albemarle Corp. (Symbol: ALB) options are showing a volume of 13,930 contracts thus far today. That number of contracts represents approximately 1.4 million underlying shares, working out to a sizeable 57% of ALB's average daily trading volume over the past month, of 2.4 million shares. Especially high volume was seen for the $95 strike call option expiring March 21, 2025, with 958 contracts trading so far today, representing approximately 95,800 underlying shares of ALB. Below is a chart showing ALB's trailing twelve month trading history, with the $95 strike highlighted in orange:

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