Today witnessed significant options trading activity in several key companies. Notably, Meta Platforms Inc (META) saw considerable action, with 33.9 million underlying shares in play and a particularly intense focus on the $470 strike call option expiring February 09, 2024. Meanwhile, Netflix Inc (NFLX) options exhibited a substantial volume of 67,596 contracts, and Costco Wholesale Corp (COST) options showed a volume of 17,828 contracts. Let’s dive into the details and implications of this notable Tuesday option activity.
META Platforms Inc (META)
Meta Platforms Inc, formerly known as Facebook, experienced a noteworthy surge in options trading. The total volume of 338,639 contracts was equivalent to approximately 33.9 million underlying shares. This figure represented 153.3% of META’s average daily trading volume over the past month, which stood at 22.1 million shares.
Of particular interest was the $470 strike call option expiring on February 09, 2024, with 14,896 contracts traded, representing about 1.5 million underlying shares of META. This heightened activity indicates a significant investor focus on potential price movements in META.
Netflix Inc (NFLX)
Netflix Inc also experienced substantial options activity on Tuesday, with 67,596 contracts traded, equivalent to approximately 6.8 million underlying shares. This volume constituted a noteworthy 94.9% of NFLX’s average daily trading volume over the past month, which amounted to 7.1 million shares.
Notably, the $575 strike call option expiring on February 09, 2024, saw 3,128 contracts traded, representing about 312,800 underlying shares of NFLX. This intense focus on a specific strike price reflects strong investor interest in potential future movements of NFLX’s stock.
Costco Wholesale Corp (COST)
Costco Wholesale Corp also featured in Tuesday’s noteworthy options trading, with a volume of 17,828 contracts exchanging hands. This figure represented approximately 1.8 million underlying shares and accounted for a substantial 86.5% of COST’s average daily trading volume over the past month, which stood at 2.1 million shares.
The $705 strike call option expiring on February 09, 2024, saw heightened interest, with 552 contracts traded, representing about 55,200 underlying shares of COST. This option activity suggests a keen focus on potential future price movements in COST.
Implications and Conclusion
The surge in options trading across these high-profile companies suggests that investors are actively positioning for potential future stock price movements. The high volume of contracts traded and the specific focus on certain strike prices signal intensified investor sentiment and anticipation. Such notable options activity can provide valuable insights into market expectations and potential upcoming volatility in these stocks.
For further details on the available expirations for META, NFLX, and COST options, visit StockOptionsChannel.com. As the market continues to respond to various economic and geopolitical factors, staying informed about options activity is crucial for investors seeking to navigate the dynamic landscape effectively.
Discover more about the state of the options market and explore today’s most active call and put options of the S&P 500 at StockOptionsChannel.com for comprehensive insights.