Significant Thursday Options Trends in GLW, PYPL, and GEV

On October 2, 2023, notable options trading activity was observed in various S&P 500 components. Corning Inc (GLW) recorded a total volume of 72,902 contracts, equivalent to approximately 7.3 million underlying shares, making up 41.6% of its average daily trading volume of 17.5 million shares. The most active option was the $220 strike call expiring on July 2, 2026, which saw 3,154 contracts traded, representing about 315,400 underlying shares.

PayPal Holdings Inc (PYPL) also experienced significant trading, with 73,520 contracts exchanged, representing roughly 7.4 million shares or 41% of its average daily volume of 17.9 million shares. The $50 strike call option expiring on July 17, 2026, was particularly active, with 5,581 contracts traded, accounting for approximately 558,100 underlying shares.

In addition, GE Vernova Inc (GEV) had options trading volume of 13,221 contracts, translating to around 1.3 million shares and approximately 40.2% of its average daily volume of 3.3 million. The $1100 strike put option expiring on August 21, 2026, generated high interest as well, with 939 contracts exchanged, representing about 93,900 underlying shares.