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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Palo Alto Networks, Inc (Symbol: PANW), where a total volume of 27,191 contracts has been traded thus far today, a contract volume which is representative of approximately 2.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 82.5% of PANW's average daily trading volume over the past month, of 3.3 million shares. Particularly high volume was seen for the $320 strike put option expiring January 19, 2024, with 2,098 contracts trading so far today, representing approximately 209,800 underlying shares of PANW. Below is a chart showing PANW's trailing twelve month trading history, with the $320 strike highlighted in orange:

Exxon Mobil Corp (Symbol: XOM) options are showing a volume of 168,200 contracts thus far today. That number of contracts represents approximately 16.8 million underlying shares, working out to a sizeable 81.6% of XOM's average daily trading volume over the past month, of 20.6 million shares. Especially high volume was seen for the $110 strike put option expiring January 19, 2024, with 33,132 contracts trading so far today, representing approximately 3.3 million underlying shares of XOM. Below is a chart showing XOM's trailing twelve month trading history, with the $110 strike highlighted in orange:

And Kinetik Holdings Inc (Symbol: KNTK) options are showing a volume of 3,350 contracts thus far today. That number of contracts represents approximately 335,000 underlying shares, working out to a sizeable 81.5% of KNTK's average daily trading volume over the past month, of 411,200 shares. Particularly high volume was seen for the $35 strike call option expiring February 16, 2024, with 3,250 contracts trading so far today, representing approximately 325,000 underlying shares of KNTK. Below is a chart showing KNTK's trailing twelve month trading history, with the $35 strike highlighted in orange:

For the various different available expirations for PANW options, XOM options, or KNTK options, visit StockOptionsChannel.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.