Notable Friday Option Activity: KMX, MMM, LW

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Carmax Inc. (Symbol: KMX), where a total of 50,741 contracts have traded so far, representing approximately 5.1 million underlying shares. That amounts to about 316.4% of KMX’s average daily trading volume over the past month of 1.6 million shares. Particularly high volume was seen for the $60 strike put option expiring January 19, 2024, with 4,026 contracts trading so far today, representing approximately 402,600 underlying shares of KMX. Below is a chart showing KMX’s trailing twelve month trading history, with the $60 strike highlighted in orange:

3M Co (Symbol: MMM) options are showing a volume of 48,943 contracts thus far today. That number of contracts represents approximately 4.9 million underlying shares, working out to a sizeable 115.3% of MMM’s average daily trading volume over the past month, of 4.2 million shares.
Particularly high volume was seen for the $98 strike put option expiring June 30, 2023, with 5,092 contracts trading so far today, representing approximately 509,200 underlying shares of MMM. Below is a chart showing MMM’s trailing twelve month trading history, with the $98 strike highlighted in orange:

And Lamb Weston Holdings Inc (Symbol: LW) saw options trading volume of 10,361 contracts, representing approximately 1.0 million underlying shares or approximately 82.5% of LW’s average daily trading volume over the past month, of 1.3 million shares.
Particularly high volume was seen for the $120 strike call option expiring August 18, 2023, with 5,075 contracts trading so far today, representing approximately 507,500 underlying shares of LW. Below is a chart showing LW’s trailing twelve month trading history, with the $120 strike highlighted in orange: