Notable Thursday Option Activity: BAC, SPG, BKNG

Looking at the tape of options trading activity within the illustrious Russell 3000 index, a scorching cauldron of market volatility has alighted on this particular Thursday. Our radar catches a titanic ripple in the realm of Bank of America Corp (Symbol: BAC), where the bell tolls with a resounding 475,084 contracts exchanged. Each contract, a proxy for a battalion of 100 underlying shares, dances to the tune of approximately 47.5 million shares traded today. That figure, reverberating through the financial cosmos, marks a staggering 145% surge over BAC’s usual daily musical number, a sonata of 32.8 million shares echoing over the moonlit markets in the past month.

Amongst this zealous symphony, a particular note rings loud and clear – the $35 strike call option, destined to expire under the June 21, 2024 sun, commands an ensemble of 87,935 contracts in today’s performance. This spectacular display embodies 8.8 million underlying shares of BAC, a crescendo of market exuberance that paints the trading canvas in vivid shades of orange. Witness the chart depicting BAC’s opus of the past twelve months, with the $35 strike standing tall amidst the musical notes of trading highs and lows.

Shifting the spotlight, Simon Property Group, Inc. (Symbol: SPG) takes center stage with an options trading volume of 18,288 contracts. This number unfurls a tapestry of approximately 1.8 million underlying shares, a spicy 140% of SPG’s customary daily dance of 1.3 million shares within the bygone month. Stealing the show is the $145 strike call option, scheduled to bow out on June 21, 2024, with 2,805 contracts spinning a tale of 280,500 underlying shares of SPG. The chart below showcases SPG’s operatic trading saga, with the $145 strike resplendent in a hue of striking orange.

And as the curtains rise, Booking Holdings Inc (Symbol: BKNG) graces the trading stage with options trading volume of 3,156 contracts. A whirlwind of approximately 315,600 underlying shares, this volume translates to an electrifying 138.1% of BKNG’s customary daily waltz of 228,575 shares in the recent month. Commanding the limelight is the $3900 strike call option, poised for a grand finale on June 07, 2024, with 683 contracts taking the center stage, embodying approximately 68,300 underlying shares of BKNG. The chart below illuminates BKNG’s trading expedition of the prior twelve months, with the $3900 strike bedecked in a regal shade of orange.

For those tempted to explore the vast expanse of options expirations available for BAC, SPG, or BKNG, embark on a journey to StockOptionsChannel.com, where the wilderness of financial instruments awaits, ready to unleash its mysteries before the eager investor.