As traders eagerly navigated the turbulent seas of the stock market on this Thursday, a glance at the options trading activity within the S&P 500 index revealed some intriguing movements. The day unfolded with Amazon.com Inc. (Symbol: AMZN) taking center stage, where a whopping volume of 641,645 contracts exchanged hands—equivalent to approximately 64.2 million underlying shares, considering the conversion ratio of 1 contract to 100 shares. This frenetic activity amounted to 140.8% of AMZN’s average daily trading volume over the last month, painting a vivid picture of heightened interest in the tech giant.
Not to be outdone, W.W. Grainger Inc. (Symbol: GWW) also witnessed a surge in options trading, recording 3,748 contracts—a reflection of around 374,800 underlying shares or 139.5% of GWW’s typical daily trading volume. The spotlight in GWW’s arena shone brightly on the $740 strike call option expiring on May 17, 2024, with 480 contracts executed so far today, representing close to 48,000 shares. The trading history chart for GWW displayed the $740 strike in a bold orange hue, symbolizing the fervor surrounding this particular option.
Meanwhile, APA Corp (Symbol: APA) danced to a tune of its own, with options trading volume reaching 55,463 contracts—equivalent to roughly 5.5 million underlying shares or 85.1% of APA’s average daily trading volume over the last month. A standout player in APA’s domain was the $31 strike put option expiring on May 10, 2024, which witnessed a substantial 26,359 contracts changing hands today, representing approximately 2.6 million shares of APA. The trading history for APA vividly showcased the $31 strike, capturing the essence of today’s market dynamics.
For those intrigued by the allure of options surrounding AMZN, GWW, or APA, a deeper dive into the available expirations beckons at StockOptionsChannel.com, offering a plethora of strategic insights for investors navigating the turbulent waters of the market.
