Notable Monday Option Activity: SONO, CCL, LGIH

nasdaqpicks.com
. 28 March 2023
156 Views
Shares

Freeport-McMoRan (FCX) Declares $0.08 Dividend

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Sonos Inc (Symbol: SONO), where a total volume of 5,880 contracts has been traded thus far today, a contract volume which is representative of approximately 588,000 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 46.4% of SONO’s average daily trading volume over the past month, of 1.3 million shares. Especially high volume was seen for the $22.50 strike call option expiring April 21, 2023, with 1,572 contracts trading so far today, representing approximately 157,200 underlying shares of SONO. Below is a chart showing SONO’s trailing twelve month trading history, with the $22.50 strike highlighted in orange:

Carnival Corp (Symbol: CCL) saw options trading volume of 184,424 contracts, representing approximately 18.4 million underlying shares or approximately 45.7% of CCL’s average daily trading volume over the past month, of 40.4 million shares.
Especially high volume was seen for the $10 strike call option expiring March 31, 2023, with 20,723 contracts trading so far today, representing approximately 2.1 million underlying shares of CCL. Below is a chart showing CCL’s trailing twelve month trading history, with the $10 strike highlighted in orange:

And LGI Homes, Inc. (Symbol: LGIH) saw options trading volume of 1,043 contracts, representing approximately 104,300 underlying shares or approximately 45.6% of LGIH’s average daily trading volume over the past month, of 228,950 shares.
Particularly high volume was seen for the $110 strike put option expiring April 21, 2023, with 312 contracts trading so far today, representing approximately 31,200 underlying shares of LGIH. Below is a chart showing LGIH’s trailing twelve month trading history, with the $110 strike highlighted in orange: