High Options Trading Volume Highlights Eli Lilly, Carvana, and Cogent Biosciences

Notable options trading activity is emerging from the components of the Russell 3000 index today. Eli Lilly (Symbol: LLY) has attracted significant attention with a total trading volume of 130,995 contracts. This volume translates to approximately 13.1 million underlying shares, given that one contract represents 100 shares. Today’s activity marks 322.4% of LLY’s average daily trading volume of 4.1 million shares over the past month. A notable spike in volume is evident for the $800 strike put option expiring on May 02, 2025, where 6,593 contracts have traded, representing about 659,300 underlying shares of LLY. Below is a chart illustrating LLY’s trailing twelve-month trading history, highlighting the $800 strike in orange:

Carvana Co (Symbol: CVNA) is also witnessing robust options trading, with 132,732 contracts traded today, representing around 13.3 million underlying shares. This volume is approximately 253.3% of CVNA’s average daily trading volume of 5.2 million shares over the last month. The $255 strike call option expiring on May 02, 2025, has seen particularly high interest, with 13,875 contracts traded, equating to about 1.4 million underlying shares of CVNA. Below is a chart showing CVNA’s trailing twelve-month trading history, with the $255 strike highlighted in orange:

Turning to Cogent Biosciences Inc (Symbol: COGT), options trading has reached a volume of 20,908 contracts today. This equals approximately 2.1 million underlying shares and corresponds to a substantial 132.5% of COGT’s average daily trading volume of 1.6 million shares over the past month. Notably, the $5 strike call option expiring on August 15, 2025, has recorded high activity, with 10,083 contracts traded, representing around 1.0 million underlying shares of COGT. Below is a chart reflecting COGT’s trailing twelve-month trading history, with the $5 strike highlighted in orange:

For further details on available expiration options for LLY, CVNA, or COGT, please visit StockOptionsChannel.com.

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.