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Notable Tuesday Option Activity: FCX, WFC, GES

By Metals Channel Staff, Tuesday, January 11, 3:40 PM ET

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Freeport-McMoran Copper & Gold (NYSE:FCX), where a total volume of 68,151 contracts has been traded thus far today, a contract volume which is representative of approximately 6.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 46.3% of FCX's average daily trading volume over the past month, of 14.7 million shares. Particularly high volume was seen for the $43 strike call option expiring January 14, 2022, with 8,037 contracts trading so far today, representing approximately 803,700 underlying shares of FCX. Below is a chart showing FCX's trailing twelve month trading history, with the $43 strike highlighted in orange:

Wells Fargo & Co (NYSE:WFC) options are showing a volume of 122,537 contracts thus far today. That number of contracts represents approximately 12.3 million underlying shares, working out to a sizeable 46.1% of WFC's average daily trading volume over the past month, of 26.6 million shares. Particularly high volume was seen for the $56 strike call option expiring January 14, 2022, with 13,019 contracts trading so far today, representing approximately 1.3 million underlying shares of WFC. Below is a chart showing WFC's trailing twelve month trading history, with the $56 strike highlighted in orange:

And GUESS ?, Inc. (NYSE:GES) saw options trading volume of 3,881 contracts, representing approximately 388,100 underlying shares or approximately 45.8% of GES's average daily trading volume over the past month, of 848,215 shares. Especially high volume was seen for the $22 strike put option expiring February 18, 2022, with 1,087 contracts trading so far today, representing approximately 108,700 underlying shares of GES. Below is a chart showing GES's trailing twelve month trading history, with the $22 strike highlighted in orange:

For the various different available expirations for FCX options, WFC options, or GES options, visit StockOptionsChannel.com.

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