Options trading activity in the S&P 500 saw significant volumes on October 3, 2023. Valero Energy Corp (VLO) recorded a total of 18,094 contracts traded, equating to approximately 1.8 million underlying shares, representing 55.9% of its average daily trading volume of 3.2 million shares. Notably, the $375 strike put option expiring September 25, 2026, had 1,403 contracts traded, amounting to roughly 140,300 underlying shares.
Southwest Airlines Co (LUV) experienced a similar trend with 31,375 contracts traded, representing about 3.1 million underlying shares, also 55.9% of its average daily trading volume of 5.6 million shares. The $44 strike call option expiring September 25, 2026, saw particularly high activity with 26,098 contracts traded, equivalent to approximately 2.6 million underlying shares.
PayPal Holdings Inc (PYPL) reported the highest trading volume among these companies with 72,590 contracts, representing around 7.3 million underlying shares, or 55.3% of its average daily volume of 13.1 million shares. The $55 strike call option expiring September 25, 2026, had 9,461 contracts traded, reflecting about 946,100 underlying shares.
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