Options activity on Friday saw a notable surge in trading volumes for Broadcom Inc, Phillips 66, and Targa Resources Corp, reflecting an unusual frenzy in the market.
Broadcom Inc (AVGO)
Broadcom Inc’s options witnessed a trading volume surge, amassing a total of 28,808 contracts so far, which represents approximately 2.9 million underlying shares. This figure amounts to about 105% of AVGO’s average daily trading volume over the past month. Notably, the $1300 strike call option expiring February 16, 2024, stood out with 2,005 contracts traded so far, representing approximately 200,500 underlying shares of AVGO.
Phillips 66 (PSX)
Phillips 66 options also showed a substantial surge in volume, reaching 33,214 contracts, which represents approximately 3.3 million underlying shares, equivalent to 96% of its average daily trading volume over the past month. The $125 strike call option expiring February 16, 2024, garnered significant attention, with 6,635 contracts traded, representing approximately 663,500 underlying shares of PSX.
Targa Resources Corp (TRGP)
Targa Resources Corp witnessed options trading volume of 11,295 contracts, representing approximately 1.1 million underlying shares, which accounts for around 66% of its average daily trading volume over the past month. Notably, the $92.50 strike call option expiring February 16, 2024, saw 2,405 contracts traded, representing approximately 240,500 underlying shares of TRGP.
For the various expiration options for AVGO, PSX, or TRGP, interested parties can visit StockOptionsChannel.com for more information.
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