Highlighting Thursday’s Key Options: ELF, GM, SATS

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Options trading activity on October 4, 2023, highlights significant movements in three companies within the Russell 3000 index. e.l.f. Beauty Inc (ELF) reported a total volume of 12,887 contracts, equating to approximately 1.3 million underlying shares or 50.1% of its average daily trading volume of 2.6 million shares. High volume was observed for the $115 strike put option expiring on January 16, 2026, with 1,517 contracts traded, representing around 151,700 shares.

General Motors Co (GM) experienced options trading of 31,950 contracts, which corresponds to about 3.2 million underlying shares and 49.8% of its average daily volume of 6.4 million shares. The $52 strike call option expiring September 12, 2025, saw 3,150 contracts traded, approximately 315,000 underlying shares.

EchoStar Corp (SATS) recorded a trading volume of 30,549 contracts, or approximately 3.1 million underlying shares, constituting 49.3% of its average daily volume of 6.2 million shares. Notably, 5,069 contracts were traded for the $60 strike put option expiring September 12, 2025, representing about 506,900 underlying shares.

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