What’s the Buzz?
Options trading is buzzing today in some familiar tickers – Palo Alto Networks, Inc (PANW), 3M Co (MMM), and Apple Inc (AAPL). Each of these giants saw significant activity that caught the eye of traders and analysts alike.
Palo Alto Networks, Inc (PANW)
PANW has been a hive of activity with a total volume of 22,357 contracts traded so far today. This represents roughly 2.2 million underlying shares, making up a whopping 97.4% of PANW’s average daily trading volume over the past month.
The $390 strike call option expiring October 25, 2024, stole the spotlight with 3,191 contracts traded, equivalent to approximately 319,100 underlying shares of PANW. A surge like this has traders and investors keeping a keen eye on where PANW might be headed next.
3M Co (MMM)
3M Co saw a burst of energy with options trading volume reaching 26,588 contracts, representing approximately 2.7 million underlying shares. This robust activity accounted for about 94% of MMM’s average daily trading volume over the past month.
The $138 strike call option expiring on October 25, 2024, saw notable action as well, with 2,279 contracts traded – a figure representing roughly 227,900 underlying shares of MMM. Traders are intrigued by the movement and what it might imply for MMM’s trajectory.
Apple Inc (AAPL)
Apple Inc was not to be left out, as options trading volume hit a staggering 333,571 contracts today, translating to around 33.4 million underlying shares. This activity made up approximately 81.8% of AAPL’s average daily trading volume in the last month.
The $237.50 strike call option expiring on October 25, 2024, saw an impressive 34,318 contracts traded today, representing approximately 3.4 million underlying shares of AAPL. The tech giant is always in the spotlight, and today was no exception.
This flurry of options activity sends ripples through the market, reflecting the ever-evolving sentiment and strategies of investors and traders in these prominent companies.
