Noteworthy Wednesday Option Activity: SQ, STNE, ALGM

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Block Inc (Symbol: SQ), where a total of 51,954 contracts have traded so far, representing approximately 5.2 million underlying shares. That amounts to about 54.4% of SQ's average daily trading volume over the past month of 9.5 million shares. Particularly high volume was seen for the $63 strike call option expiring August 18, 2023, with 2,690 contracts trading so far today, representing approximately 269,000 underlying shares of SQ. Below is a chart showing SQ's trailing twelve month trading history, with the $63 strike highlighted in orange:

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StoneCo Ltd (Symbol: STNE) options are showing a volume of 24,379 contracts thus far today. That number of contracts represents approximately 2.4 million underlying shares, working out to a sizeable 52.5% of STNE's average daily trading volume over the past month, of 4.6 million shares. Particularly high volume was seen for the $15.50 strike call option expiring August 18, 2023, with 3,585 contracts trading so far today, representing approximately 358,500 underlying shares of STNE. Below is a chart showing STNE's trailing twelve month trading history, with the $15.50 strike highlighted in orange:

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And Allegro MicroSystems Inc (Symbol: ALGM) saw options trading volume of 9,171 contracts, representing approximately 917,100 underlying shares or approximately 51.8% of ALGM's average daily trading volume over the past month, of 1.8 million shares. Especially high volume was seen for the $35 strike put option expiring September 15, 2023, with 5,161 contracts trading so far today, representing approximately 516,100 underlying shares of ALGM. Below is a chart showing ALGM's trailing twelve month trading history, with the $35 strike highlighted in orange:

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For the various different available expirations for SQ options, STNE options, or ALGM options, visit StockOptionsChannel.com.

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