Notable Monday Option Activity: IFF, PM, BIIB

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in International Flavors & Fragrances Inc. (Symbol: IFF), where a total of 16,184 contracts have traded so far, representing approximately 1.6 million underlying shares. That amounts to about 90.3% of IFF's average daily trading volume over the past month of 1.8 million shares. Especially high volume was seen for the $100 strike call option expiring November 18, 2023, with 6,725 contracts trading so far today, representing approximately 672,500 underlying shares of IFF. Below is a chart showing IFF's trailing twelve month trading history, with the $100 strike highlighted in orange:

Philip Morris International Inc (Symbol: PM) options are showing a volume of 38,411 contracts thus far today. That number of contracts represents approximately 3.8 million underlying shares, working out to a sizeable 82.8% of PM's average daily trading volume over the past month, of 4.6 million shares. Especially high volume was seen for the $97.50 strike call option expiring December 16, 2023, with 16,779 contracts trading so far today, representing approximately 1.7 million underlying shares of PM. Below is a chart showing PM's trailing twelve month trading history, with the $97.50 strike highlighted in orange: