Notable Thursday Option Activity: ADBE, FLWS, CLR

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Adobe Inc (NASDAQ:ADBE), where a total volume of 23,789 contracts has been traded thus far today, a contract volume which is representative of approximately 2.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 85.3% of ADBE's average daily trading volume over the past month, of 2.8 million shares. Particularly high volume was seen for the $525 strike call option expiring February 19, 2021, with 4,261 contracts trading so far today, representing approximately 426,100 underlying shares of ADBE. Below is a chart showing ADBE's trailing twelve month trading history, with the $525 strike highlighted in orange:

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1-800 Flowers.com, Inc. (NASDAQ:FLWS) options are showing a volume of 7,665 contracts thus far today. That number of contracts represents approximately 766,500 underlying shares, working out to a sizeable 79.2% of FLWS's average daily trading volume over the past month, of 967,685 shares. Especially high volume was seen for the $40 strike call option expiring February 19, 2021, with 2,819 contracts trading so far today, representing approximately 281,900 underlying shares of FLWS. Below is a chart showing FLWS's trailing twelve month trading history, with the $40 strike highlighted in orange:

And Continental Resources Inc. (CLR) saw options trading volume of 22,736 contracts, representing approximately 2.3 million underlying shares or approximately 78.9% of CLR's average daily trading volume over the past month, of 2.9 million shares. Especially high volume was seen for the $30 strike call option expiring March 19, 2021, with 7,593 contracts trading so far today, representing approximately 759,300 underlying shares of CLR. Below is a chart showing CLR's trailing twelve month trading history, with the $30 strike highlighted in orange:

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