Noteworthy Wednesday Option Activity: LLY, ARCH, PANW

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 26,079 contracts has been traded thus far today, a contract volume which is representative of approximately 2.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 70.5% of LLY's average daily trading volume over the past month, of 3.7 million shares. Especially high volume was seen for the $350 strike put option expiring December 15, 2023, with 2,000 contracts trading so far today, representing approximately 200,000 underlying shares of LLY. Below is a chart showing LLY's trailing twelve month trading history, with the $350 strike highlighted in orange:

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Arch Resources Inc (Symbol: ARCH) options are showing a volume of 2,279 contracts thus far today. That number of contracts represents approximately 227,900 underlying shares, working out to a sizeable 61.6% of ARCH's average daily trading volume over the past month, of 370,035 shares. Especially high volume was seen for the $150 strike put option expiring December 15, 2023, with 2,040 contracts trading so far today, representing approximately 204,000 underlying shares of ARCH. Below is a chart showing ARCH's trailing twelve month trading history, with the $150 strike highlighted in orange:

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And Palo Alto Networks, Inc (Symbol: PANW) saw options trading volume of 29,511 contracts, representing approximately 3.0 million underlying shares or approximately 60.5% of PANW's average daily trading volume over the past month, of 4.9 million shares. Especially high volume was seen for the $270 strike call option expiring December 01, 2023, with 1,386 contracts trading so far today, representing approximately 138,600 underlying shares of PANW. Below is a chart showing PANW's trailing twelve month trading history, with the $270 strike highlighted in orange:

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For the various different available expirations for LLY options, ARCH options, or PANW options, visit StockOptionsChannel.com.

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