Noteworthy Wednesday Option Activity: RH, YOU, MU

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in RH (Symbol: RH), where a total volume of 2,640 contracts has been traded thus far today, a contract volume which is representative of approximately 264,000 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 52.7% of RH's average daily trading volume over the past month, of 501,105 shares. Particularly high volume was seen for the $280 strike call option expiring January 26, 2024, with 273 contracts trading so far today, representing approximately 27,300 underlying shares of RH. Below is a chart showing RH's trailing twelve month trading history, with the $280 strike highlighted in orange:

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Clear Secure Inc (Symbol: YOU) options are showing a volume of 5,834 contracts thus far today. That number of contracts represents approximately 583,400 underlying shares, working out to a sizeable 52.7% of YOU's average daily trading volume over the past month, of 1.1 million shares. Particularly high volume was seen for the $20.45 strike call option expiring February 16, 2024, with 4,569 contracts trading so far today, representing approximately 456,900 underlying shares of YOU. Below is a chart showing YOU's trailing twelve month trading history, with the $20.45 strike highlighted in orange:

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And Micron Technology Inc. (Symbol: MU) saw options trading volume of 70,104 contracts, representing approximately 7.0 million underlying shares or approximately 51.8% of MU's average daily trading volume over the past month, of 13.5 million shares. Particularly high volume was seen for the $89 strike call option expiring January 26, 2024, with 9,747 contracts trading so far today, representing approximately 974,700 underlying shares of MU. Below is a chart showing MU's trailing twelve month trading history, with the $89 strike highlighted in orange:

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