Surge in Options Trading for Snowflake, MongoDB, and Lexicon Pharmaceuticals

Notable Activity in the Russell 3000 Index

Recent options trading activity reveals significant movements in several companies within the Russell 3000 index. One standout is Snowflake Inc (Symbol: SNOW), which has seen a total of 37,427 contracts traded today. This volume translates to approximately 3.7 million underlying shares, which is about 81.4% of SNOW’s average daily trading volume of 4.6 million shares over the past month. The $170 strike call option set to expire on February 21, 2025, has drawn particular interest, with 4,272 contracts traded today, representing about 427,200 underlying shares of SNOW. Below is a chart depicting SNOW’s trading history, highlighting the $170 strike in orange:

Next, MongoDB Inc (Symbol: MDB) is also experiencing heightened options activity, with 9,828 contracts traded thus far today. This equates to approximately 982,800 underlying shares, accounting for 79.5% of MDB’s average daily trading volume, which stands at 1.2 million shares over the last month. The $235 strike put option, expiring on November 01, 2024, has garnered attention as well, with 2,254 contracts traded today, representing around 225,400 underlying shares of MDB. Here is a chart detailing MDB’s trading history, with the $235 strike highlighted:

Lexicon Pharmaceuticals, Inc. (Symbol: LXRX) rounds out today’s highlights with impressive options volume of 20,653 contracts. This figure corresponds to about 2.1 million underlying shares, making up 74.5% of LXRX’s average daily trading volume, which is 2.8 million shares over the previous month. A significant number of trades have occurred with the $2 strike call option, set to expire on November 15, 2024, totaling 10,161 contracts today. This equates to approximately 1.0 million underlying shares of LXRX. The following chart illustrates LXRX’s trading history, with the $2 strike highlighted:

For more information on available expirations for SNOW, MDB, or LXRX options, visit StockOptionsChannel.com.

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