Notable Friday Option Activity: NVDA, CMG, BKNG

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in NVIDIA Corp (Symbol: NVDA), where a total volume of 1.2 million contracts has been traded thus far today, a contract volume which is representative of approximately 118.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 325.6% of NVDA’s average daily trading volume over the past month, of 36.4 million shares. Especially high volume was seen for the $490 strike call option expiring January 05, 2024, with 83,344 contracts trading so far today, representing approximately 8.3 million underlying shares of NVDA. Below is a chart showing NVDA’s trailing twelve month trading history, with the $490 strike highlighted in orange:

Chipotle Mexican Grill Inc (Symbol: CMG) options are showing a volume of 4,519 contracts thus far today. That number of contracts represents approximately 451,900 underlying shares, working out to a sizeable 262.6% of CMG’s average daily trading volume over the past month, of 172,085 shares.
Particularly high volume was seen for the $1950 strike put option expiring January 19, 2024, with 155 contracts trading so far today, representing approximately 15,500 underlying shares of CMG. Below is a chart showing CMG’s trailing twelve month trading history, with the $1950 strike highlighted in orange:

And Booking Holdings Inc (Symbol: BKNG) saw options trading volume of 5,347 contracts, representing approximately 534,700 underlying shares or approximately 198% of BKNG’s average daily trading volume over the past month, of 270,110 shares.
Especially high volume was seen for the $2040 strike put option expiring January 26, 2024, with 117 contracts trading so far today, representing approximately 11,700 underlying shares of BKNG. Below is a chart showing BKNG’s trailing twelve month trading history, with the $2040 strike highlighted in orange: