Noteworthy Wednesday Option Activity: AFRM, MGM, QRVO

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Affirm Holdings Inc (Symbol: AFRM), where a total volume of 81,114 contracts has been traded thus far today, a contract volume which is representative of approximately 8.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 50.8% of AFRM's average daily trading volume over the past month, of 16.0 million shares. Especially high volume was seen for the $17 strike put option expiring August 04, 2023, with 4,697 contracts trading so far today, representing approximately 469,700 underlying shares of AFRM. Below is a chart showing AFRM's trailing twelve month trading history, with the $17 strike highlighted in orange:

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MGM Resorts International (Symbol: MGM) options are showing a volume of 21,800 contracts thus far today. That number of contracts represents approximately 2.2 million underlying shares, working out to a sizeable 50.4% of MGM's average daily trading volume over the past month, of 4.3 million shares. Especially high volume was seen for the $53 strike call option expiring August 04, 2023, with 1,498 contracts trading so far today, representing approximately 149,800 underlying shares of MGM. Below is a chart showing MGM's trailing twelve month trading history, with the $53 strike highlighted in orange:

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And Qorvo Inc (Symbol: QRVO) options are showing a volume of 5,546 contracts thus far today. That number of contracts represents approximately 554,600 underlying shares, working out to a sizeable 50.3% of QRVO's average daily trading volume over the past month, of 1.1 million shares. Particularly high volume was seen for the $110 strike call option expiring August 18, 2023, with 1,884 contracts trading so far today, representing approximately 188,400 underlying shares of QRVO. Below is a chart showing QRVO's trailing twelve month trading history, with the $110 strike highlighted in orange:

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For the various different available expirations for AFRM options, MGM options, or QRVO options, visit StockOptionsChannel.com.

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