Surge in Options Trading: Dominos, Biogen, and American Axle Stand Out

Today’s options trading revealed notable activity in key players of the Russell 3000 index, particularly Dominos Pizza Inc. (Symbol: DPZ), Biogen Inc. (Symbol: BIIB), and American Axle & Manufacturing Holdings Inc. (Symbol: AXL).

In the options market, Dominos Pizza Inc. has experienced significant trading volume. So far, 3,298 contracts have been executed, equivalent to about 329,800 underlying shares. This figure reflects approximately 59.3% of DPZ’s average daily trading volume, which stands at 556,205 shares for the past month. A remarkable focus was placed on the $440 strike put option that expires on November 22, 2024, with 561 contracts traded today, representing around 56,100 underlying shares of DPZ. Below is a chart that details DPZ’s trading history over the last twelve months, with the $440 strike highlighted in orange:

Meanwhile, Biogen Inc. recorded a trading volume of 8,507 contracts, which corresponds to about 850,700 underlying shares. This represents about 58.8% of BIIB’s average daily trading volume of 1.4 million shares over the past month. A specific highlight was the $150 strike put option expiring on November 15, 2024, with 1,601 contracts traded today, corresponding to around 160,100 underlying shares of BIIB. Below is a chart illustrating BIIB’s trading patterns over the past year, with the $150 strike option emphasized in orange:

American Axle & Manufacturing Holdings Inc. also witnessed significant activity, achieving a trading volume of 9,397 contracts—or about 939,700 underlying shares. This accounts for approximately 57.8% of AXL’s average daily trading volume of 1.6 million shares over the last month. The most notable action was for the $7 strike call option expiring on January 17, 2025, with a staggering 9,090 contracts traded today, representing around 909,000 underlying shares of AXL. Below is a visual depiction of AXL’s trading history for the past year, highlighting the $7 strike in orange:

You can explore the various available expirations for options on DPZ, BIIB, or AXL by visiting StockOptionsChannel.com.

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

Additional Resources:

• CPNG Options Chain
• Top Ten Hedge Funds Holding IBHA
• Institutional Holders of XBIO

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