Notable Monday Option Activity: MSTR, RAVN, FOSL

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in MicroStrategy Inc. (NASDAQ:MSTR), where a total volume of 4,046 contracts has been traded thus far today, a contract volume which is representative of approximately 404,600 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 48.4% of MSTR's average daily trading volume over the past month, of 835,760 shares. Particularly high volume was seen for the $290 strike call option expiring July 16, 2021, with 227 contracts trading so far today, representing approximately 22,700 underlying shares of MSTR. Below is a chart showing MSTR's trailing twelve month trading history, with the $290 strike highlighted in orange:

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Raven Industries, Inc. (RAVN) options are showing a volume of 1,836 contracts thus far today. That number of contracts represents approximately 183,600 underlying shares, working out to a sizeable 48.3% of RAVN's average daily trading volume over the past month, of 380,430 shares. Particularly high volume was seen for the $45 strike call option expiring April 16, 2021, with 655 contracts trading so far today, representing approximately 65,500 underlying shares of RAVN. Below is a chart showing RAVN's trailing twelve month trading history, with the $45 strike highlighted in orange:

And Fossil Group Inc (NASDAQ:FOSL) options are showing a volume of 4,882 contracts thus far today. That number of contracts represents approximately 488,200 underlying shares, working out to a sizeable 47.9% of FOSL's average daily trading volume over the past month, of 1.0 million shares. Particularly high volume was seen for the $11.50 strike put option expiring April 16, 2021, with 2,500 contracts trading so far today, representing approximately 250,000 underlying shares of FOSL. Below is a chart showing FOSL's trailing twelve month trading history, with the $11.50 strike highlighted in orange:

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