Noteworthy Wednesday Option Activity: ALGT, DKNG, CPS

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Allegiant Travel Company (Symbol: ALGT), where a total volume of 1,032 contracts has been traded thus far today, a contract volume which is representative of approximately 103,200 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 59.1% of ALGT's average daily trading volume over the past month, of 174,730 shares. Especially high volume was seen for the $130 strike call option expiring August 18, 2023, with 562 contracts trading so far today, representing approximately 56,200 underlying shares of ALGT. Below is a chart showing ALGT's trailing twelve month trading history, with the $130 strike highlighted in orange:

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DraftKings Inc (Symbol: DKNG) options are showing a volume of 54,997 contracts thus far today. That number of contracts represents approximately 5.5 million underlying shares, working out to a sizeable 56.8% of DKNG's average daily trading volume over the past month, of 9.7 million shares. Especially high volume was seen for the $30.50 strike put option expiring August 04, 2023, with 6,650 contracts trading so far today, representing approximately 665,000 underlying shares of DKNG. Below is a chart showing DKNG's trailing twelve month trading history, with the $30.50 strike highlighted in orange:

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And Cooper-Standard Holdings Inc (Symbol: CPS) saw options trading volume of 1,072 contracts, representing approximately 107,200 underlying shares or approximately 53.4% of CPS's average daily trading volume over the past month, of 200,795 shares. Particularly high volume was seen for the $17.50 strike put option expiring January 19, 2024, with 200 contracts trading so far today, representing approximately 20,000 underlying shares of CPS. Below is a chart showing CPS's trailing twelve month trading history, with the $17.50 strike highlighted in orange:

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For the various different available expirations for ALGT options, DKNG options, or CPS options, visit StockOptionsChannel.com.

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