The Online Investor

Notable Friday Option Activity: SPLK, PCRX, SQ

By The Online Investor Staff, Friday, July 1, 3:40 PM ET

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Splunk Inc (NASDAQ:SPLK), where a total volume of 8,475 contracts has been traded thus far today, a contract volume which is representative of approximately 847,500 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 44.6% of SPLK's average daily trading volume over the past month, of 1.9 million shares. Particularly high volume was seen for the $85 strike put option expiring September 16, 2022, with 1,004 contracts trading so far today, representing approximately 100,400 underlying shares of SPLK. Below is a chart showing SPLK's trailing twelve month trading history, with the $85 strike highlighted in orange:

Pacira BioSciences Inc (NASDAQ:PCRX) options are showing a volume of 2,299 contracts thus far today. That number of contracts represents approximately 229,900 underlying shares, working out to a sizeable 44% of PCRX's average daily trading volume over the past month, of 522,745 shares. Especially high volume was seen for the $85 strike call option expiring November 18, 2022, with 1,127 contracts trading so far today, representing approximately 112,700 underlying shares of PCRX. Below is a chart showing PCRX's trailing twelve month trading history, with the $85 strike highlighted in orange:

And Block Inc (NYSE:SQ) saw options trading volume of 81,448 contracts, representing approximately 8.1 million underlying shares or approximately 43.8% of SQ's average daily trading volume over the past month, of 18.6 million shares. Especially high volume was seen for the $67 strike call option expiring July 01, 2022, with 6,659 contracts trading so far today, representing approximately 665,900 underlying shares of SQ. Below is a chart showing SQ's trailing twelve month trading history, with the $67 strike highlighted in orange:

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