Exploring Unprecedented Options Movements in Top S&P 500 Stocks

Looking at the bustling world of options trading within the S&P 500 index, Friday brings about remarkable activity, especially in NVIDIA Corp (Symbol: NVDA). A staggering total volume of 1.7 million contracts has swiftly changed hands today, indicative of around 165.5 million underlying shares (convertible at a rate of 100 shares per contract). For context, this figure amounts to a whopping 273.6% surge over NVDA’s average daily trading volume throughout the past month, which stood at 60.5 million shares. Notably, the $950 strike call option expiring on March 22, 2024, has been a focal point, with a notable 90,589 contracts traded so far today, translating to roughly 9.1 million underlying shares of NVDA. The trajectory of NVDA’s trading history over the trailing twelve months is revealing, with the $950 strike dramatically underscored in a vibrant orange hue:

Netflix Inc (Symbol: NFLX) is also experiencing a flurry of options trading activity today, with a total of 58,176 contracts changing hands, representing approximately 5.8 million underlying shares or roughly 185.6% of NFLX’s average daily trading volume over the past month, which was 3.1 million shares. The $630 strike call option expiring on March 22, 2024, has been under the spotlight, with 5,791 contracts traded thus far today, indicating about 579,100 underlying shares of NFLX. The chart illustrating NFLX’s trading trend over the last twelve months vividly portrays the emphasis on the $630 strike, highlighted in a bold orange shade:

On the other hand, Microsoft Corporation (Symbol: MSFT) is not far behind in the options arena, with a substantial volume of 168,109 contracts traded today, equivalent to around 16.8 million underlying shares. This remarkable figure accounts for an impressive 78.6% of MSFT’s average daily trading volume throughout the preceding month, which was 21.4 million shares. In a similar accent, the $425 strike put option expiring on March 22, 2024, saw heightened interest today, with 22,312 contracts exchanged, representing about 2.2 million underlying shares of MSFT. The chart mapping MSFT’s trading journey over the past year intriguingly highlights the significance of the $425 strike in a captivating orange hue:

For further insights on the diverse range of expirations available for NVDA, NFLX, or MSFT options, investors are encouraged to explore StockOptionsChannel.com.

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