Unusual Options Activity Rocks the Market

Among the underlying components of the S&P 500 index, today witnessed exceptional options trading volume in the realm of Tesla Inc (Symbol: TSLA). A staggering 1.5 million contracts have exchanged hands so far, equivalent to about 151.0 million underlying shares. This constitutes approximately 148.6% of TSLA’s average daily trading volume for the past month, which stood at 101.6 million shares. The $170 strike call option expiring March 22, 2024, experienced an astonishing 91,695 contracts trading today, representing a lofty 9.2 million underlying shares of TSLA.

Lululemon athletica inc (Symbol: LULU) dazzled the market with a notable options volume of 11,161 contracts on this fine day. This figure translates to roughly 1.1 million underlying shares, a significant 103% of LULU’s average daily trading volume over the past month, which settled at 1.1 million shares. A particularly striking event was the active trading of 581 contracts for the $325 strike put option expiring March 22, 2024, representing a chunky 58,100 underlying shares of LULU.

Warner Bros Discovery Inc (Symbol: WBD) made waves in the options market with a total trading volume of 280,227 contracts. This is equivalent to about 28.0 million underlying shares or approximately 80.4% of WBD’s average daily trading volume over the past month, which amounted to 34.9 million shares. A notable surge was observed in the trading of 144,070 contracts for the $9 strike put option expiring March 28, 2024, representing approximately 14.4 million underlying shares of WBD.