Notable Wednesday Option Activity: GNRC, COIN, RILY

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Generac Holdings Inc (Symbol: GNRC), where a total volume of 18,732 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 148.8% of GNRC’s average daily trading volume over the past month, of 1.3 million shares. Especially high volume was seen for the $140 strike put option expiring June 30, 2023, with 1,976 contracts trading so far today, representing approximately 197,600 underlying shares of GNRC. Below is a chart showing GNRC’s trailing twelve month trading history, with the $140 strike highlighted in orange:

Coinbase Global Inc (Symbol: COIN) saw options trading volume of 190,031 contracts, representing approximately 19.0 million underlying shares or approximately 107.2% of COIN’s average daily trading volume over the past month, of 17.7 million shares.
Particularly high volume was seen for the $75 strike call option expiring June 30, 2023, with 11,256 contracts trading so far today, representing approximately 1.1 million underlying shares of COIN. Below is a chart showing COIN’s trailing twelve month trading history, with the $75 strike highlighted in orange:

And B. Riley Financial Inc (Symbol: RILY) options are showing a volume of 2,674 contracts thus far today. That number of contracts represents approximately 267,400 underlying shares, working out to a sizeable 106.8% of RILY’s average daily trading volume over the past month, of 250,480 shares.
Particularly high volume was seen for the $40 strike put option expiring January 19, 2024, with 1,017 contracts trading so far today, representing approximately 101,700 underlying shares of RILY. Below is a chart showing RILY’s trailing twelve month trading history, with the $40 strike highlighted in orange: