Thursday’s Exceptional Options Trading: OXY, TSLA, WFC Exceptional Options Activity Detected for OXY, TSLA, WFC

Published On: February 15, 2024 1:56 pm

As part of the S&P 500 index, consider today’s options trading volume activities. Occidental Petroleum Corp (OXY) witnessed striking options activity. 166,165 contracts, approximately equating to 16.6 million underlying shares, were traded today, comprising about 185.1% of OXY’s average daily trading volume in the past month (9.0 million shares). The call options with a $59 strike and an expiration date of February 16, 2024, attracted the highest volume, with 18,748 contracts traded, representing approximately 1.9 million underlying shares of OXY. Below is a graph that delineates OXY’s recent trading history, with the $59 strike flagged in orange:

Tesla Inc (TSLA) also registered substantial options trading volume, with 1.9 million contracts traded, representing approximately 189.5 million underlying shares, or about 172% of their average daily trading volume over the past month (110.2 million shares). For the $195 strike call option, expiring on February 16, 2024, high volume activity was observed, with 185,226 contracts traded thus far today, representing about 18.5 million underlying shares of TSLA. Below is a graphical representation of TSLA’s trailing twelve month trading history, with the $195 strike accentuated in orange:

On the other hand, Wells Fargo & Co (WFC) saw options trading volume of 170,058 contracts, equivalent to approximately 17.0 million underlying shares, or about 98.6% of their average daily trading volume over the past month (17.2 million shares). The $49.50 strike call option expiring February 16, 2024, was at the center of the heightened activity, with 23,444 contracts traded today, representing around 2.3 million underlying shares of WFC. Below is a visualization of WFC’s trailing twelve month trading history, with the $49.50 strike underscored in orange: