Notable Thursday optional activity: FANG, CZR, UAL

IIn terms of options trading activity among the constituents of the S&P 500 Index, there was notable activity today at Diamondback Energy, Inc. (Symbol: FANG), where total volume of 14,575 contracts has been traded so far today, a contract volume that is representative of approximately 1.5 million underlying shares (given that each contract represents 100 underlying shares). This number equates to 49.5% of FANG’s average daily trading volume over the past month, or 2.9 million shares. Particularly high volume was seen for the $80 strike call option expiring March 18, 2022, with 3,130 contracts traded so far today, representing approximately 313,000 underlying FANG shares. Below is a chart showing FANG’s trading history over the past twelve months, with the $80 strike highlighted in orange:

Caesars Entertainment Inc (Symbol: CZR) recorded options trading volume of 12,839 contracts, representing approximately 1.3 million underlying shares, or approximately 42.3% of CZR’s average daily trading volume during the last month, or 3.0 million shares. Particularly high volume was seen for the $80 strike put option expiring March 11, 2022, with 3,657 contracts traded so far today, representing approximately 365,700 underlying CZR shares. Below is a chart showing CZR’s trading history over the past twelve months, with the $80 strike highlighted in orange:

And United Airlines Holdings Inc (ticker: UAL) options are showing a volume of 54,775 contracts so far today. This number of contracts represents approximately 5.5 million underlying shares, or 41.6% of UAL’s average daily trading volume over the past month, or 13.2 million shares. Particularly high volume was seen for the $50 strike call option expiring March 18, 2022, with 7,346 contracts traded so far today, representing approximately 734,600 underlying shares of UAL. Below is a chart showing UAL’s trading history over the last twelve months, with the $50 strike highlighted in orange:

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