Noteworthy Wednesday Option Activity: PARA, AA, LEG

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Paramount Global (Symbol: PARA), where a total volume of 53,067 contracts has been traded thus far today, a contract volume which is representative of approximately 5.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 42.6% of PARA's average daily trading volume over the past month, of 12.4 million shares. Particularly high volume was seen for the $30 strike put option expiring January 20, 2023, with 15,619 contracts trading so far today, representing approximately 1.6 million underlying shares of PARA. Below is a chart showing PARA's trailing twelve month trading history, with the $30 strike highlighted in orange:

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Alcoa Corporation (Symbol: AA) saw options trading volume of 17,861 contracts, representing approximately 1.8 million underlying shares or approximately 42.4% of AA's average daily trading volume over the past month, of 4.2 million shares. Especially high volume was seen for the $39.50 strike put option expiring December 30, 2022, with 5,668 contracts trading so far today, representing approximately 566,800 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $39.50 strike highlighted in orange:

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And Leggett & Platt, Inc. (Symbol: LEG) options are showing a volume of 3,700 contracts thus far today. That number of contracts represents approximately 370,000 underlying shares, working out to a sizeable 42.3% of LEG's average daily trading volume over the past month, of 875,645 shares. Particularly high volume was seen for the $30 strike put option expiring January 20, 2023, with 2,012 contracts trading so far today, representing approximately 201,200 underlying shares of LEG. Below is a chart showing LEG's trailing twelve month trading history, with the $30 strike highlighted in orange:

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For the various different available expirations for PARA options, AA options, or LEG options, visit StockOptionsChannel.com.

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