Surge in Options Trading Highlights Activity in Rapid7, Best Buy, and Alight

Investors are actively trading options across several notable companies, signaling robust market interest.

Among the components of the Russell 3000 index, a significant rise in options trading volume was observed in Rapid7 Inc (Symbol: RPD). To date, 5,126 contracts have changed hands, which translates to about 512,600 underlying shares. This volume represents roughly 77.3% of RPD’s average daily trading volume over the past month, which stands at 662,710 shares. The $45 strike call option expiring on November 15, 2024, saw the most action, with 1,612 contracts traded, equating to approximately 161,200 underlying shares of RPD. The accompanying chart illustrates RPD’s trading history over the last twelve months, highlighting the $45 strike in orange:

In a similar vein, Best Buy Inc (Symbol: BBY) also experienced heightened options trading, with a total of 16,756 contracts exchanged. This volume amounts to about 1.7 million underlying shares, or 76.7% of BBY’s monthly average trading volume of 2.2 million shares. The $87.50 strike put option, expiring on March 21, 2025, was particularly active, with 1,756 contracts trading today, representing about 175,600 underlying shares. Below is a chart showing BBY’s trading history over the past twelve months, with the $87.50 strike marked in orange:

Lastly, Alight Inc (Symbol: ALIT) has seen options trading volume reach 23,212 contracts. This total represents approximately 2.3 million underlying shares, which is 76.7% of ALIT’s average daily trading volume of 3.0 million shares over the past month. The $8 strike call option expiring on December 20, 2024, attracted considerable attention, with 7,620 contracts traded, equating to about 762,000 underlying shares of ALIT. The chart below displays ALIT’s trading history over the last year, featuring the $8 strike in orange:

Investors looking for more information on available expirations for RPD, BBY, or ALIT options can 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.