Options Trading Heats Up for Carvana, Applovin, and TeraWulf

Carvana Co. Sees Unprecedented Call Option Activity

Among the components of the Russell 3000 index, Carvana Co. (Symbol: CVNA) displayed remarkable options trading volume today. In total, 26,546 contracts have traded, which is equivalent to about 2.7 million underlying shares. This figure accounts for approximately 104.1% of CVNA’s average daily trading volume of 2.6 million shares over the past month. The $195 strike call option expiring on October 25, 2024, particularly stood out, with 2,644 contracts traded today, representing around 264,400 underlying shares. Below is a chart illustrating CVNA’s trailing twelve-month trading history, with the $195 strike highlighted in orange:

Applovin Corp. Experiences High Call Option Volume

Applovin Corp. (Symbol: APP) also reported significant options trading today, with a total of 35,925 contracts, which translates to approximately 3.6 million underlying shares. This volume represents roughly 96.7% of APP’s average daily trading volume of 3.7 million shares over the last month. The $200 strike call option expiring on November 15, 2024, was especially active, with 4,032 contracts traded today, amounting to about 403,200 underlying shares. The following chart shows APP’s trading history over the past year, with the $200 strike highlighted:

TeraWulf Inc. Sees Surging Options Activity

TeraWulf Inc. (Symbol: WULF) is not to be overlooked, as it recorded options trading volume of 182,817 contracts today. This staggering number represents approximately 18.3 million underlying shares, corresponding to 91.3% of WULF’s average daily trading volume of 20.0 million shares over the past month. High activity was noted for the $10 strike call option expiring on January 17, 2025, with 24,004 contracts traded today, equating to around 2.4 million underlying shares. The chart below depicts WULF’s trailing twelve-month trading activity, with the $10 strike highlighted in orange:

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

Additional Resources:

• Larry Robbins Stock Picks
• ITUB Dividend History
• PDEX Historical PE Ratio

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.