Notable Friday Option Activity: CVNA, TSLA, META

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Carvana Co (CVNA), where a total volume of 189,331 contracts has been traded thus far today, a contract volume which is representative of approximately 18.9 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 663% of CVNA's average daily trading volume over the past month, of 2.9 million shares..