Noteworthy Wednesday Option Activity: AMBA, CSCO, INTC

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Ambarella, Inc. (Symbol: AMBA), where a total volume of 2,540 contracts has been traded thus far today, a contract volume which is representative of approximately 254,000 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 56.7% of AMBA's average daily trading volume over the past month, of 448,150 shares. Particularly high volume was seen for the $75 strike call option expiring December 01, 2023, with 485 contracts trading so far today, representing approximately 48,500 underlying shares of AMBA. Below is a chart showing AMBA's trailing twelve month trading history, with the $75 strike highlighted in orange:

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Cisco Systems Inc (Symbol: CSCO) saw options trading volume of 90,563 contracts, representing approximately 9.1 million underlying shares or approximately 56% of CSCO's average daily trading volume over the past month, of 16.2 million shares. Particularly high volume was seen for the $50 strike put option expiring January 19, 2024, with 5,502 contracts trading so far today, representing approximately 550,200 underlying shares of CSCO. Below is a chart showing CSCO's trailing twelve month trading history, with the $50 strike highlighted in orange:

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And Intel Corp (Symbol: INTC) options are showing a volume of 226,757 contracts thus far today. That number of contracts represents approximately 22.7 million underlying shares, working out to a sizeable 55.9% of INTC's average daily trading volume over the past month, of 40.5 million shares. Especially high volume was seen for the $41 strike call option expiring December 15, 2023, with 12,545 contracts trading so far today, representing approximately 1.3 million underlying shares of INTC. Below is a chart showing INTC's trailing twelve month trading history, with the $41 strike highlighted in orange:

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For the various different available expirations for AMBA options, CSCO options, or INTC options, visit StockOptionsChannel.com.

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