Notable Friday Option Activity: AMD, LRCX, WFC

In today’s whirlwind of trading activities, Advanced Micro Devices Inc (AMD) grabbed the spotlight with a staggering 538,910 contracts exchanged, equivalent to 53.9 million underlying shares – a whopping 87.8% of AMD’s typical daily trading volume over the last month. Eyes were glued on the $150 strike put option expiring on April 19, 2024, as it played a lead role, boasting 52,885 contracts traded so far. This captivating performance represents approximately 5.3 million shares of AMD. The charts capturing AMD’s trail over the past year have been painted with the $150 strike, shining in a vivid orange hue.

Trails of Lam Research Corp (LRCX)

Turning our gaze to Lam Research Corp (LRCX), options trading revealed 7,230 contracts changing hands today. This number represents about 723,000 underlying shares, constituting a significant 81.7% of LRCX’s average daily volume over the past month. The focal point of interest was the $880 strike put option expiring on April 19, 2024, with 954 contracts traded so far today – that’s about 95,400 underlying shares of LRCX. Tracking LRCX’s journey over the previous twelve months, the $880 strike stands out boldly, painted in a conspicuous shade of orange.

The Wells Fargo & Co (WFC) Spectacle

Meanwhile, Wells Fargo & Co (WFC) made waves in the options market with a trading volume of 120,059 contracts – a representation of approximately 12.0 million underlying shares, or roughly 73.5% of WFC’s average daily volume over the past month. The $60 strike call option set to expire on April 19, 2024, garnered particular attention, with 14,872 contracts traded so far today, translating to around 1.5 million underlying shares of WFC. The charts documenting WFC’s journey over the previous year shine a light on the $60 strike, painted in a bold shade of orange.