Options Trading Highlights: CAVA, ELF, and United States Steel Stand Out
Among the underlying components of the Russell 3000 index, CAVA Group Inc (Symbol: CAVA) experienced significant options trading today. A total of 14,186 contracts were exchanged, which equates to approximately 1.4 million shares. This trading volume constitutes about 53.5% of CAVA’s average daily trading volume of 2.7 million shares over the past month. The most active was the $115 strike put option set to expire on December 27, 2024, with 523 contracts traded today, representing around 52,300 of CAVA’s underlying shares. Below is a chart displaying CAVA’s trailing twelve-month trading history, with the $115 strike highlighted in orange:
e.l.f. Beauty Inc (Symbol: ELF) also saw strong options trading, with 7,525 contracts that represent about 752,500 underlying shares. This accounts for roughly 52.8% of ELF’s average daily trading volume of 1.4 million shares in the last month. The $137 strike call option, which expires on December 27, 2024, had particularly high activity, with 574 contracts traded so far today, representing about 57,400 underlying shares of ELF. The following chart illustrates ELF’s trading history over the past twelve months, highlighting the $137 strike in orange:
United States Steel Corp. (Symbol: X) recorded an even higher trading volume, with 32,088 contracts, representing approximately 3.2 million underlying shares. This figure amounts to about 52.2% of X’s average daily trading volume of 6.1 million shares over the past month. A noteworthy amount of trading was noted for the $28 strike put option expiring on January 17, 2025, with 5,335 contracts traded today, equating to around 533,500 underlying shares of X. Below is a chart showing X’s trading history for the past twelve months, highlighting the $28 strike option:
To explore the various available expirations for options on CAVA, ELF, or X, please visit StockOptionsChannel.com.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
