Surge in Options Trading Activity for Scorpio Tankers, Cassava Sciences, and Block Inc

Today’s options trading shows remarkable volume across key players in the Russell 3000 index, signaling potential market shifts.

Scorpio Tankers Inc (Symbol: STNG) has captured attention with a total trading volume of 4,190 contracts today. This volume corresponds to about 419,000 underlying shares, given that each contract represents 100 shares. Notably, this figure accounts for 56.7% of STNG’s average daily trading volume of 739,610 shares over the past month. The $62.50 strike call option set to expire on November 15, 2024, has seen significant action, with 594 contracts traded, equating to roughly 59,400 underlying shares. Below is a chart illustrating STNG’s trading history for the past twelve months, highlighting the $62.50 strike in orange:

Likewise, Cassava Sciences Inc (Symbol: SAVA) has experienced a robust options trading volume of 11,069 contracts, amounting to approximately 1.1 million underlying shares. This represents about 55.7% of SAVA’s average daily trading volume of 2.0 million shares over the last month. The $32 strike call option, expiring on October 25, 2024, has seen heightened interest with 3,386 contracts traded today, accounting for around 338,600 underlying shares. The following chart displays the past twelve months of SAVA’s trading, with the $32 strike noted in orange:

Block Inc (Symbol: SQ) is also in the spotlight, having recorded an options trading volume of 30,077 contracts, which translates to about 3.0 million underlying shares. This volume denotes approximately 55.6% of SQ’s average daily trading volume, which is 5.4 million shares. Particularly, the $75 strike call option expiring on October 25, 2024, has attracted considerable trading activity, with 7,189 contracts exchanged, reflecting around 718,900 underlying shares. Below is the chart showing SQ’s twelve-month trading history, with the $75 strike highlighted in orange:

For information on various expirations available for options on STNG, SAVA, or SQ, visit StockOptionsChannel.com.

Today’s Most Active Call & Put Options of the S&P 500 »

Also see:

• Consumer Goods Dividend Stock List
• CRIS shares outstanding history
• NLSP Average Annual Return

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.