Noteworthy Wednesday Option Activity: WWW, AMBA, WIRE

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Wolverine World Wide, Inc. (Symbol: WWW), where a total volume of 4,205 contracts has been traded thus far today, a contract volume which is representative of approximately 420,500 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 53.1% of WWW's average daily trading volume over the past month, of 791,930 shares. Particularly high volume was seen for the $12.50 strike call option expiring March 15, 2024, with 2,025 contracts trading so far today, representing approximately 202,500 underlying shares of WWW. Below is a chart showing WWW's trailing twelve month trading history, with the $12.50 strike highlighted in orange:

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Ambarella, Inc. (Symbol: AMBA) options are showing a volume of 2,291 contracts thus far today. That number of contracts represents approximately 229,100 underlying shares, working out to a sizeable 49% of AMBA's average daily trading volume over the past month, of 467,640 shares. Especially high volume was seen for the $57 strike call option expiring February 23, 2024, with 363 contracts trading so far today, representing approximately 36,300 underlying shares of AMBA. Below is a chart showing AMBA's trailing twelve month trading history, with the $57 strike highlighted in orange:

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And Encore Wire Corp. (Symbol: WIRE) saw options trading volume of 789 contracts, representing approximately 78,900 underlying shares or approximately 48.4% of WIRE's average daily trading volume over the past month, of 162,990 shares. Especially high volume was seen for the $210 strike put option expiring February 16, 2024, with 234 contracts trading so far today, representing approximately 23,400 underlying shares of WIRE. Below is a chart showing WIRE's trailing twelve month trading history, with the $210 strike highlighted in orange:

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For the various different available expirations for WWW options, AMBA options, or WIRE options, visit StockOptionsChannel.com.

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