When it comes to options trading activities, some days are just waves crashing against the shore, and then there’s Friday. Three significant giants that cause ripples, unintended or otherwise, in the S&P 500 index have been sending shockwaves through the market. Representatives of Eli Lilly, Lam Research Corp, and APA Corp have been making some unexpected noise. Let’s dive in and see what’s truly afoot.

A Close Look at Eli Lilly

Starting with Eli Lilly (Symbol: LLY), it seems like the market is buzzing like a hornet’s nest. An eye-popping total of 104,065 contracts have been traded so far, representing an approximate equivalent of 10.4 million underlying shares. For those of you keeping score, this is 295.3% of LLY’s average daily trading volume over the past month! The particularly intriguing player in this whirlwind activity is the $800 strike call option expiring on February 23, 2024, with a whopping 8,654 contracts already changing hands. It’s like a high-stakes poker game, with nearly 865,400 underlying shares of LLY in play. Talk about making waves!

Delving into Lam Research Corp

Lam Research Corp (Symbol: LRCX) is no slouch either. It’s like a bustling marketplace with 23,194 contracts traded, representing approximately 2.3 million underlying shares – that’s about 182.9% of LRCX’s average daily trading volume over the past month! But the real showstopper is the $950 strike call option expiring on February 16, 2024. A vigorous 2,960 contracts have been traded, equivalent to roughly 296,000 underlying shares of LRCX. This is options trading at its most thunderous.

The Unpredictable APA Corp

If that isn’t enough, APA Corp (Symbol: APA) is refusing to be outdone. The options volume is reaching a substantial 81,302 contracts today, representing approximately 8.1 million underlying shares – a considerable 148.6% of APA’s average daily trading volume over the past month! The $30 strike put option expiring on March 28, 2024, has been especially lively, with a colossal 44,036 contracts changing hands, accounting for approximately 4.4 million underlying shares of APA. It’s like watching a clever game of chess play out.

For further indulgence in the available expirations for LLY options, LRCX options, or APA options, visit StockOptionsChannel.com.

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