Intriguing Movement in Nike (NKE)
When scanning the underlying components of the Russell 3000 index, one cannot ignore the striking options trading activity surrounding Nike (NKE) on this particular Tuesday. A total of 50,853 contracts changed hands, reflecting roughly 5.1 million underlying shares. This remarkable figure accounts for about 47.1% of NKE’s average daily trading volume over the last month, standing at 10.8 million shares. Of special note was the heightened interest in the $90 strike put option expiring on October 18, 2024, with 2,648 contracts traded so far today, representing around 264,800 underlying shares of NKE. Is this a sign of turbulence or opportunity on the horizon for the global apparel giant?
GlobalFoundries Inc (GFS): The Options Rollercoaster Continues
GlobalFoundries Inc (GFS) stepped into the options arena with authority today, witnessing a trading volume of 6,322 contracts thus far. This volume translates to roughly 632,200 underlying shares, constituting a substantial 46% of GFS’s average daily trading volume over the past month, which was 1.4 million shares. Notably, the $50 strike call option expiring on May 17, 2024, stole the spotlight with 3,024 contracts traded today, representing approximately 302,400 underlying shares of GFS. The chart below showcases GFS’s adventurous twelve-month trading history, with the $50 strike prominently illuminated in orange.
Beyond Meat Inc. (BYND): A Carnivalesque Options Frenzy
Meanwhile, in the realm of Beyond Meat Inc. (BYND), a whirlwind of options trading unfolded with 29,700 contracts changing hands today, representing approximately 3.0 million underlying shares – an impressive 44.7% of BYND’s average daily trading volume over the past month, which stood at 6.6 million shares. The $8.50 strike call option expiring on March 28, 2024, was a hot commodity, with 5,818 contracts traded, equivalent to around 581,800 underlying shares of BYND. The chart below provides a visual representation of BYND’s lively twelve-month trading history, with the $8.50 strike shining brightly in orange.
For a comprehensive overview of the various available expirations for NKE options, GFS options, or BYND options, investors are encouraged to delve into StockOptionsChannel.com, where a myriad of possibilities await exploration.
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The perspectives articulated herein are those of the author and do not necessarily mirror those of Nasdaq, Inc.
