Surge in Options Trading: Carvana, United States Steel, and Arcutis Lead the Way
Carvana Co. Exceeds Average Trading Volume Significantly
Among the notable players in the Russell 3000 index, Carvana Co. (Symbol: CVNA) has experienced remarkable options trading today. A total of 33,097 contracts have changed hands, equating to approximately 3.3 million underlying shares. This volume represents about 134.8% of CVNA’s average daily trading volume over the past month, which stands at 2.5 million shares. The $260 strike call option, set to expire on January 17, 2025, attracted particular interest, with 5,092 contracts trading today—translating to around 509,200 shares in total. The accompanying chart illustrates CVNA’s trading history over the past year, with the $260 strike clearly marked in orange:
United States Steel Corp. Sees Heavy Options Activity
United States Steel Corp. (Symbol: X) is also making headlines, recording 82,842 contracts traded so far today. This figure signifies roughly 8.3 million underlying shares, accounting for an impressive 133.2% of the company’s average daily trading volume for the last month, which is 6.2 million shares. Strong interest was noted in the $55 strike call option due to expire on January 17, 2025, seeing 13,436 contracts traded, representing around 1.3 million underlying shares of X. A chart of X’s trading history for the past year shows the $55 strike in orange:
Arcutis Biotherapeutics Inc. Reports High Trading Volume
Arcutis Biotherapeutics Inc. (Symbol: ARQT) isn’t far behind, with 21,928 contracts traded today. This equates to about 2.2 million underlying shares, or roughly 117.5% of ARQT’s average daily volume of 1.9 million shares over the past month. Notably, the $15 strike call option set to expire on December 20, 2024, has drawn significant attention, with 14,964 contracts changing hands, reflecting approximately 1.5 million underlying shares of ARQT. Below is the chart displaying ARQT’s previous year of trading history, highlighting the $15 strike:
For a comprehensive look at the various available options expirations for CVNA, X, or ARQT, 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.
