Highlights from Tuesday’s Notable Options Activity: ELF, MNTK, MP

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Among the components of the Russell 3000 index, e.l.f. Beauty Inc (Symbol: ELF) experienced significant options trading on the day, with 21,636 contracts traded—approximately 2.2 million underlying shares, making up about 54% of its average daily trading volume (4.0 million shares) over the past month. The most notable activity was in the $85 strike call option expiring August 21, 2026, where 7,587 contracts were exchanged, representing around 758,700 underlying shares.

Montauk Renewables Inc (Symbol: MNTK) recorded options trading volume of 1,080 contracts (approximately 108,000 underlying shares), which is about 52.5% of its average daily volume (205,780 shares). The $2.50 strike call option, also expiring August 21, 2026, saw the same volume of 1,080 contracts.

MP Materials Corp (Symbol: MP) saw a notable trading volume of 26,018 contracts, or around 2.6 million underlying shares, amounting to approximately 49.7% of its average daily trading volume (5.2 million shares). The $70 strike call option due on September 18, 2026, witnessed 3,228 contracts traded, indicating approximately 322,800 underlying shares.

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