Notable Tuesday Option Activity: MBI, CRAY, BRCD

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in MBIA Inc. (MBI), where a total volume of 3,422 contracts has been traded thus far today, a contract volume which is representative of approximately 342,200 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 42.7% of MBI's average daily trading volume over the past month, of 801,285 shares. Particularly high volume was seen for the $9 strike call option expiring May 19, 2017, with 1,005 contracts trading so far today, representing approximately 100,500 underlying shares of MBI. Below is a chart showing MBI's trailing twelve month trading history, with the $9 strike highlighted in orange:

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Cray Inc ( CRAY) saw options trading volume of 1,255 contracts, representing approximately 125,500 underlying shares or approximately 42.3% of CRAY's average daily trading volume over the past month, of 296,765 shares. Especially high volume was seen for the $17.50 strike put option expiring November 18, 2016, with 497 contracts trading so far today, representing approximately 49,700 underlying shares of CRAY. Below is a chart showing CRAY's trailing twelve month trading history, with the $17.50 strike highlighted in orange:

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And Brocade Communications Systems, Inc. ( BRCD) options are showing a volume of 23,032 contracts thus far today. That number of contracts represents approximately 2.3 million underlying shares, working out to a sizeable 42.2% of BRCD's average daily trading volume over the past month, of 5.5 million shares. Particularly high volume was seen for the $12 strike call option expiring November 18, 2016, with 7,712 contracts trading so far today, representing approximately 771,200 underlying shares of BRCD. Below is a chart showing BRCD's trailing twelve month trading history, with the $12 strike highlighted in orange:

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For the various different available expirations for MBI options, CRAY options, or BRCD options, visit StockOptionsChannel.com.

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