Notable Friday Option Activity: MNST, YUM, AZO

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Monster Beverage Corp (NASD: MNST), where a total volume of 27,876 contracts has been traded thus far today, a contract volume which is representative of approximately 2.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 347.1% of MNST's average daily trading volume over the past month, of 803,175 shares. Especially high volume was seen for the $145 strike call option expiring February 27, 2015, with 3,044 contracts trading so far today, representing approximately 304,400 underlying shares of MNST. Below is a chart showing MNST's trailing twelve month trading history, with the $145 strike highlighted in orange:

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Yum! Brands, Inc. (NYSE: YUM) saw options trading volume of 71,817 contracts, representing approximately 7.2 million underlying shares or approximately 213.9% of YUM's average daily trading volume over the past month, of 3.4 million shares.

Especially high volume was seen for the $80.50 strike call option expiring March 20, 2015, with 13,022 contracts trading so far today, representing approximately 1.3 million underlying shares of YUM. Below is a chart showing YUM's trailing twelve month trading history, with the $80.50 strike highlighted in orange:

And AutoZone , Inc. (NYSE: AZO) saw options trading volume of 3,183 contracts, representing approximately 318,300 underlying shares or approximately 136.4% of AZO's average daily trading volume over the past month, of 233,365 shares.

Especially high volume was seen for the $630 strike put option expiring March 20, 2015, with 594 contracts trading so far today, representing approximately 59,400 underlying shares of AZO. Below is a chart showing AZO's trailing twelve month trading history, with the $630 strike highlighted in orange:

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