Options Trading Spotlight: MSFT, CRK, and CLW Draw Investor Attention

DegenDreamer · 2026-01-20T23:10:37+00:00

Options trading surged today in three Russell 3000 stocks. Microsoft led with 171,422 contracts, focusing on $510 puts. Comstock Resources had 20,891 contracts, particularly in $35 calls. Clearwater Paper saw 1,524 contracts, mainly in $20 calls, indicating bullish sentiment.

DegenDreamer

2026-01-20 23:10:37

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Traders were particularly active in options markets today, with three stocks from the Russell 3000 capturing significant trading interest. Here’s what the data reveals:

Microsoft (MSFT) Leads Volume Surge

Microsoft Corporation saw robust options activity, with 171,422 contracts exchanged throughout the session. This translated to approximately 17.1 million shares in notional exposure, representing 78.4% of MSFT’s typical daily trading volume. The most heavily traded position was the $510 put option set to expire on January 16, 2026, which alone accounted for 10,335 contracts or roughly 1.0 million shares. Over the past twelve months, this particular strike level has maintained notable relevance for traders managing downside risk.

CRK Attracts Significant Call Interest

Comstock Resources Inc (CRK) emerged as another focal point for options traders. The stock witnessed 20,891 option contracts trade today, equating to approximately 2.1 million underlying shares—this represented about 80.2% of CRK’s average daily trading volume of 2.6 million shares. The standout was the $35 call option expiring November 20, 2026, which drew 19,182 contracts, or nearly 1.9 million shares. The concentration in this single strike suggests strong bullish positioning among market participants.

Clearwater Paper (CLW) Shows Concentrated Trading

Clearwater Paper Corp rounded out today’s most active options, with 1,524 total contracts representing 152,400 underlying shares. This level accounted for 76% of CLW’s average daily trading volume of 200,630 shares. The $20 call option expiring January 16, 2026 dominated activity, capturing 1,510 contracts or approximately 151,000 shares, indicating focused bullish sentiment in the stock.

For a complete breakdown of available expirations and strike prices across these three names, detailed option chains remain available for review.

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