Noteworthy Wednesday Option Activity: UAL, DAL, AMD

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in United Airlines Holdings Inc (Symbol: UAL), where a total volume of 62,423 contracts has been traded thus far today, a contract volume which is representative of approximately 6.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 82% of UAL's average daily trading volume over the past month, of 7.6 million shares. Particularly high volume was seen for the $45 strike call option expiring April 19, 2024, with 5,210 contracts trading so far today, representing approximately 521,000 underlying shares of UAL. Below is a chart showing UAL's trailing twelve month trading history, with the $45 strike highlighted in orange:

Delta Air Lines Inc (Symbol: DAL) options are showing a volume of 69,919 contracts thus far today. That number of contracts represents approximately 7.0 million underlying shares, working out to a sizeable 81.4% of DAL's average daily trading volume over the past month, of 8.6 million shares. Particularly high volume was seen for the $46.50 strike put option expiring March 28, 2024, with 6,710 contracts trading so far today, representing approximately 671,000 underlying shares of DAL. Below is a chart showing DAL's trailing twelve month trading history, with the $46.50 strike highlighted in orange:

And Advanced Micro Devices Inc (Symbol: AMD) options are showing a volume of 561,000 contracts thus far today. That number of contracts represents approximately 56.1 million underlying shares, working out to a sizeable 72.1% of AMD's average daily trading volume over the past month, of 77.8 million shares. Especially high volume was seen for the $180 strike call option expiring March 28, 2024, with 68,924 contracts trading so far today, representing approximately 6.9 million underlying shares of AMD. Below is a chart showing AMD's trailing twelve month trading history, with the $180 strike highlighted in orange:

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