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Noteworthy Wednesday Option Activity: IBM, NBR, PLL

By Preferred Stock Channel Staff, Wednesday, November 8, 3:20 PM ET

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in International Business Machines Corp (NYSE:IBM), where a total volume of 89,272 contracts has been traded thus far today, a contract volume which is representative of approximately 8.9 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 191.2% of IBM's average daily trading volume over the past month, of 4.7 million shares. Particularly high volume was seen for the $140 strike call option expiring November 17, 2023, with 26,939 contracts trading so far today, representing approximately 2.7 million underlying shares of IBM. Below is a chart showing IBM's trailing twelve month trading history, with the $140 strike highlighted in orange:

Nabors Industries Ltd (NYSE:NBR) options are showing a volume of 4,542 contracts thus far today. That number of contracts represents approximately 454,200 underlying shares, working out to a sizeable 170.9% of NBR's average daily trading volume over the past month, of 265,765 shares. Particularly high volume was seen for the $95 strike call option expiring December 15, 2023, with 737 contracts trading so far today, representing approximately 73,700 underlying shares of NBR. Below is a chart showing NBR's trailing twelve month trading history, with the $95 strike highlighted in orange:

And Piedmont Lithium Inc (NASDAQ:PLL) saw options trading volume of 5,848 contracts, representing approximately 584,800 underlying shares or approximately 160.8% of PLL's average daily trading volume over the past month, of 363,680 shares. Particularly high volume was seen for the $70 strike put option expiring January 19, 2024, with 2,500 contracts trading so far today, representing approximately 250,000 underlying shares of PLL. Below is a chart showing PLL's trailing twelve month trading history, with the $70 strike highlighted in orange:

For the various different available expirations for IBM options, NBR options, or PLL options, visit StockOptionsChannel.com.

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