Noteworthy Monday Option Activity: MMM, KODK, SPT

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in 3M Co (NYSE:MMM), where a total volume of 17,423 contracts has been traded thus far today, a contract volume which is representative of approximately 1.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 53% of MMM's average daily trading volume over the past month, of 3.3 million shares. Especially high volume was seen for the $165 strike put option expiring October 15, 2021, with 4,671 contracts trading so far today, representing approximately 467,100 underlying shares of MMM. Below is a chart showing MMM's trailing twelve month trading history, with the $165 strike highlighted in orange:

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Eastman Kodak Co. (NYSE:KODK) options are showing a volume of 8,074 contracts thus far today. That number of contracts represents approximately 807,400 underlying shares, working out to a sizeable 52.7% of KODK's average daily trading volume over the past month, of 1.5 million shares. Especially high volume was seen for the $10 strike put option expiring January 21, 2022, with 1,200 contracts trading so far today, representing approximately 120,000 underlying shares of KODK. Below is a chart showing KODK's trailing twelve month trading history, with the $10 strike highlighted in orange:

And Sprout Social Inc (NASDAQ:SPT) saw options trading volume of 2,543 contracts, representing approximately 254,300 underlying shares or approximately 52.3% of SPT's average daily trading volume over the past month, of 485,790 shares. Especially high volume was seen for the $105 strike put option expiring October 15, 2021, with 1,016 contracts trading so far today, representing approximately 101,600 underlying shares of SPT. Below is a chart showing SPT's trailing twelve month trading history, with the $105 strike highlighted in orange:

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