Surge in Options Trading for Tesla, Costco, and Universal Corp

Active Day in the Market: Notable Volume Spotted in Major Stocks

In today’s trading activity within the Russell 3000 index, Tesla Inc (Symbol: TSLA) has exhibited significant options trading volume. Thus far, 1.6 million contracts have changed hands, which corresponds to around 162.7 million underlying shares. This astonishing volume represents approximately 193.4% of TSLA’s average daily trading volume of 84.1 million shares over the past month. The highlight of today’s trading is the $270 strike call option expiring on November 01, 2024, with 112,950 contracts exchanged, approximately equating to 11.3 million underlying shares of TSLA. Below is a chart showcasing TSLA’s trailing twelve-month trading history, with the $270 strike marked in orange:

Costco Wholesale Corp (Symbol: COST) has also seen a spike in options trading, with 26,372 contracts traded today. This volume translates to roughly 2.6 million underlying shares, amounting to a notable 163.2% of COST’s average daily trading volume of 1.6 million shares in the past month. A significant portion of this activity was for the $840 strike put option set to expire on November 08, 2024, which recorded 2,966 contracts trading, equivalent to about 296,600 underlying shares of COST. Below is a chart detailing COST’s trailing twelve-month trading history, with the $840 strike highlighted in orange:

Additionally, Universal Corp (Symbol: UVV) registered a volume of 1,980 contracts today. This figure represents approximately 198,000 underlying shares, which is a substantial 161% of UVV’s average daily trading volume of 123,015 shares over the past month. A notable volume was observed in the $45 strike put option expiring on November 15, 2024, where 1,571 contracts have traded, correlating to around 157,100 underlying shares of UVV. Below is a chart illustrating UVV’s trailing twelve-month trading history, with the $45 strike emphasized in orange:

For additional details on the various available expirations for TSLA, COST, or UVV options, visit StockOptionsChannel.com.

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