On October 16, 2023, notable options trading activity occurred in several S&P 500 components. 3M Co (MMM) experienced a trading volume of 44,109 contracts, equating to approximately 4.4 million underlying shares, which is about 103.7% of its average daily trading volume of 4.3 million shares over the past month. The $140 strike call option expiring on September 19, 2025, had a significant volume of 20,358 contracts.
Adobe Inc (ADBE) reported 26,789 contracts traded, representing around 2.7 million underlying shares or 81.6% of its monthly average of 3.3 million shares. The $400 strike call option, also expiring on September 19, 2025, saw 1,690 contracts traded. Additionally, ON Semiconductor Corp (ON) had a trading volume of 63,966 contracts, reflecting about 6.4 million shares, or 70% of its 9.1 million average. The $41 strike put option expiring on October 17, 2025, had 17,800 contracts traded.
