High Options Trading Volume Observed in Corning and Newmont

A report highlights significant options trading volumes for Corning Inc, Newmont Corp, and Coupang Inc, indicating potential investor interest. High activity in specific strike options may signal market expectations and upcoming movements in stock prices.

Date: 11-09-2024

AI Rating: 6

The report discusses notable options trading volumes in three companies from the Russell 3000 index: Corning Inc (GLW), Newmont Corp (NEM), and Coupang Inc (CPNG). Here’s a closer look at the implications:

Corning Inc (GLW)

Corning reported an options trading volume of 18,404 contracts, representing 1.8 million underlying shares. The trading volume for the $41 strike call option expiring on October 18, 2024 was particularly high, with 8,266 contracts traded, indicating considerable market interest. Such activity could imply optimism regarding GLW’s stock performance leading up to this expiration date, potentially leading to upward pressure on stock prices.

Newmont Corp (NEM)

Newmont showed a trading volume of 27,164 options contracts, approximately 2.7 million underlying shares. The $45 strike put option expiring September 27, 2024 had a notable volume of 7,750 contracts. A high volume of put options can suggest that investors might be hedging against declines in stock prices, hinting at bearish sentiment which could negatively impact NEM’s stock valuation.

Coupang Inc (CPNG)

Coupang's options volume reached 28,070 contracts, with 8,382 contracts of the $23.50 strike call option expiring September 20, 2024 being particularly high. This indicates strong bullish sentiment among investors, possibly resulting in a rise in CPNG’s stock if the options are exercised or if the stock price moves favorably in the near future.

Overall, the trading activities across these three companies suggest varying sentiment among investors, which could affect their respective stock prices moving forward.

Stocks: GLW NEM CPNG