HomeMarket NewsUncommon Options Flare-Up: Allegro MicroSystems, StoneCo Ltd, Grand Canyon Education Inc

Uncommon Options Flare-Up: Allegro MicroSystems, StoneCo Ltd, Grand Canyon Education Inc

Actionable Trade Ideas

always free

Allegro MicroSystems Inc (ALGM) Options Activity

As the day unfolded, Allegro MicroSystems Inc (ALGM) emerged as a standout in the options market, with a whopping 18,880 contracts exchanging hands, representing about 1.9 million underlying shares. This surge amounts to a staggering 148.4% of ALGM’s average daily trading volume over the past month. A particular focus was on the $22.50 strike put option expiring in May 2024, drawing in 18,538 contracts thus far today, equivalent to approximately 1.9 million underlying shares of ALGM. A chart visually articulates ALGM’s trading history for the trailing twelve months, with the $22.50 strike displayed in vibrant orange:

Loading+chart+β€”+2024+TickerTech.com

StoneCo Ltd (STNE) Options Surge

Shifting gears, StoneCo Ltd (STNE) saw a notable surge in options activity today, totaling 64,825 contracts exchanging hands. This volume translates to about 6.5 million underlying shares, a substantial 126.6% of STNE’s average daily trading volume over the past month of 5.1 million shares. The spotlight was on the $18 strike call option expiring in July 2024, with 15,552 contracts traded so far today, representing roughly 1.6 million underlying shares of STNE. An illustrative chart showcases STNE’s trading history over the last twelve months, highlighted by the $18 strike in a bold orange hue:

Loading+chart+β€”+2024+TickerTech.com

Grand Canyon Education Inc (LOPE) Options Action

Elsewhere, Grand Canyon Education Inc (LOPE) witnessed a surge in options activity, with 1,692 contracts in play, equivalent to roughly 169,200 underlying shares or about 116.3% of LOPE’s average daily trading volume over the past month, pegged at 145,500 shares. Noteworthy traction was observed for the $130 strike put option expiring in May 2024, with 679 contracts traded thus far today, representing roughly 67,900 underlying shares of LOPE. Delve into the trends within LOPE’s trading history graph over the trailing twelve months, with the $130 strike outlined vibrantly in orange:

Loading+chart+β€”+2024+TickerTech.com

For a comprehensive breakdown of the available expirations for ALGM, STNE, or LOPE options, explore StockOptionsChannel.com.

nslideshowToday’s Most Active Call & Put Options of the S&P 500 Β»

Also check out:

Β• Top Ten Hedge Funds Holding SUSC
Β• Funds Holding PDT
Β• FOS Videos

The perspectives shared in this piece reflect the author’s views and not necessarily those of Nasdaq, Inc.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.