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Thursday Options Activity Impact: PYPL, SABR, CENX Options Traders Flex Their Muscles with PYPL, SABR, and CENX

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What a bustling day it has been in the options market! The centers of attention today are PayPal Holdings Inc (Symbol: PYPL), Sabre Corp (Symbol: SABR), and Century Aluminum Co. (Symbol: CENX). The trading activity among components of the Russell 3000 index seems to be capturing the hearts and minds of the investing public. Let’s delve into the numbers and get a feel for the pulse in the market.

PayPal Holdings Inc (PYPL)

The volume of trading in options for PYPL is making waves today, with a total of 134,308 contracts changing hands thus far. This is equivalent to approximately 13.4 million underlying shares. The staggering number represents 52.9% of PYPL’s average daily trading volume over the past month, which stood at 25.4 million shares. Particularly eye-catching is the activity in the $61 strike call option expiring February 16, 2024, with 13,913 contracts traded so far. This represents an astonishing 1.4 million underlying shares of PYPL. The chart below illustrates PYPL’s trading history, with the $61 strike highlighted in orange:

Sabre Corp (SABR)

The options market for Sabre Corp is abuzz as well, with a total of 17,174 contracts traded today, equivalent to about 1.7 million underlying shares. This mirrors 52.2% of SABR’s average daily trading volume over the past month. Notably, the $3.50 strike call option expiring February 16, 2024, has seen substantial activity, with 1,757 contracts traded, representing approximately 175,700 underlying shares of SABR. Below is a chart depicting SABR’s trading history, with the $3.50 strike highlighted in orange:

Century Aluminum Co. (CENX)

The surge in options trading extends to Century Aluminum Co. as well, with 6,708 contracts traded, representing around 670,800 underlying shares. This accounts for 51.6% of CENX’s average daily trading volume over the past month. Notably, the $5 strike put option expiring December 19, 2025, has seen impressive activity, with 4,000 contracts traded, representing about 400,000 underlying shares of CENX. The chart below outlines CENX’s trading history, with the $5 strike highlighted in orange: