Noteworthy Monday Option Activity: SHAK, CAR, KR

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Shake Shack Inc (Symbol: SHAK), where a total volume of 4,176 contracts has been traded thus far today, a contract volume which is representative of approximately 417,600 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 50% of SHAK’s average daily trading volume over the past month, of 834,510 shares. Particularly high volume was seen for the $57.50 strike put option expiring September 15, 2023, with 1,500 contracts trading so far today, representing approximately 150,000 underlying shares of SHAK. Below is a chart showing SHAK’s trailing twelve month trading history, with the $57.50 strike highlighted in orange:

Avis Budget Group Inc (Symbol: CAR) options are showing a volume of 1,846 contracts thus far today. That number of contracts represents approximately 184,600 underlying shares, working out to a sizeable 45.7% of CAR’s average daily trading volume over the past month, of 403,645 shares.
Especially high volume was seen for the $192.50 strike put option expiring June 16, 2023, with 138 contracts trading so far today, representing approximately 13,800 underlying shares of CAR. Below is a chart showing CAR’s trailing twelve month trading history, with the $192.50 strike highlighted in orange:

And Kroger Co (Symbol: KR) saw options trading volume of 26,739 contracts, representing approximately 2.7 million underlying shares or approximately 43.7% of KR’s average daily trading volume over the past month, of 6.1 million shares.
Particularly high volume was seen for the $42 strike put option expiring June 16, 2023, with 5,141 contracts trading so far today, representing approximately 514,100 underlying shares of KR. Below is a chart showing KR’s trailing twelve month trading history, with the $42 strike highlighted in orange: