Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Applovin Corp (APP), where a total volume of 19,143 contracts has been traded thus far today, a contract volume which is representative of approximately 1.9 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 85.3% of APP's average daily trading volume over the past month, of 2.2 million shares. Especially high volume was seen for the $40 strike put option expiring January 19, 2024, with 2,052 contracts trading so far today, representing approximately 205,200 underlying shares of APP. Below is a chart showing APP's trailing twelve month trading history, with the $40 strike highlighted in orange:

Start slideshow:
Today's Most Active Call & Put Options of the S&P 500 »

Nexstar Media Group Inc (NXST) saw options trading volume of 2,238 contracts, representing approximately 223,800 underlying shares or approximately 84.1% of NXST's average daily trading volume over the past month, of 266,190 shares. Particularly high volume was seen for the $155 strike call option expiring December 15, 2023, with 623 contracts trading so far today, representing approximately 62,300 underlying shares of NXST. Below is a chart showing NXST's trailing twelve month trading history, with the $155 strike highlighted in orange:

And Penumbra Inc (PEN) saw options trading volume of 3,704 contracts, representing approximately 370,400 underlying shares or approximately 82.7% of PEN's average daily trading volume over the past month, of 447,780 shares. Especially high volume was seen for the $195 strike put option expiring December 20, 2024, with 900 contracts trading so far today, representing approximately 90,000 underlying shares of PEN. Below is a chart showing PEN's trailing twelve month trading history, with the $195 strike highlighted in orange: