Remarkable Friday Optional Activity: PANW, ZS, FCN

AAmong the underlying constituents of the Russell 3000 Index, we saw remarkable options trading volume today at Palo Alto Networks, Inc (Symbol: PANW), where a total of 7,164 contracts were traded so far. at present, representing approximately 716,400 underlying stocks. This equates to about 54.6% of PANW’s average daily trading volume over the past month of 1.3 million shares. Particularly high volume was seen for the $370 strike put option expiring on January 20, 2023, with 501 contracts traded so far today, representing approximately 50,100 underlying PANW shares. Below is a chart showing PANW’s trading history over the last twelve months, with the $370 strike highlighted in orange:

Zscaler Inc (Symbol: ZS) recorded options trading volume of 12,281 contracts, representing approximately 1.2 million underlying shares, or approximately 53.1% of ZS’s average daily trading volume during the last month, or 2.3 million shares. Particularly high volume was seen for the $135 strike put option expiring on August 19, 2022, with 890 contracts traded so far today, representing approximately 89,000 underlying shares of ZS. Below is a chart showing ZS’s trading history over the last twelve months, with the $135 strike highlighted in orange:

And FTI Consulting Inc. (Symbol: FCN) options are showing a volume of 1,481 contracts so far today. This number of contracts represents approximately 148,100 underlying shares, or 52.3% of FCN’s average daily trading volume over the past month, or 283,390 shares. Particularly high volume was seen for the $100 strike put option expiring August 19, 2022, with 1,140 contracts traded so far today, representing approximately 114,000 underlying FCN shares. Below is a chart showing FCN’s trading history over the last twelve months, with the $100 strike highlighted in orange:

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