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Thursday’s trading session saw substantial options trading activity among S&P 500 components Oracle Corp (NYSE:), Caesars Entertainment Inc (NASDAQ:), and CVS Health Corporation (NYSE:).
Oracle Corp traded 49,051 contracts or approximately 4.9 million underlying shares. This volume represents 49% of the company’s average daily trading volume over the past month. A noticeable trend was the high activity of the $125 strike put option set to expire on October 20, 2023. This pattern aligns with Oracle’s trailing twelve-month trading history. Furthermore, Oracle has been a prominent player in the software industry, and it has raised its dividend for 10 consecutive years, according to InvestingPro Tips. The company also boasts a high return over the last decade, which is a testament to its stability and growth. According to InvestingPro’s real-time metrics, Oracle has a market cap of $298.92 billion USD and a P/E ratio of 31.54. The company’s revenue growth for LTM2024.Q1 stands at 15.41%, indicating a steady upward trend.
Caesars Entertainment Inc also experienced a surge in options trading. The company traded 12,368 contracts with the $35 strike put option due on June 21, 2024, seeing high volumes. This activity mirrored trends seen in Caesar’s trailing twelve-month trading history.
CVS Health Corporation traded 32,954 contracts, with the $80 strike call option expiring on January 19, 2024, attracting particular attention. This trading activity is consistent with CVS’s trailing twelve-month trading history.
For more detailed information on these options and the most active call and put options of the S&P 500, financial analysts and investors are directed towards reliable financial information sources. For additional insights and tips, investors can also consider subscribing to InvestingPro, which provides a plethora of tips, including two that were mentioned in this article. For more information, visit InvestingPro Pricing.
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