GRUB, X Options Activity Ramps Up

X is fresh off an annual low this morning

The 20 S&P MidCap 400 Index (MID) stocks listed in the table below have attracted the highest options volume during the past 10 trading days, with data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. The stocks highlighted in yellow are new to the list. Below, we're going to take a closer look at GrubHub Inc (NYSE:GRUB) and United States Steel Corporation (NYSE:X).

GRUB has seen 67,258 call options traded during the past 10 days, compared to57,266 puts. Most active this afternoon has been the weekly 2/7 65-strike call, where 6,103 options have been exchanged so far. Stepping back a bit, the February 55 call is home to peak call open interest.

GrubHub stock was last seen trading at $57.24, running head-first into resistance at its 160-day moving average. Nevertheless, GRUB is up 79% after bottoming at the $32 level back in late October.

Moving on to U.S. Steel stock, the security has seen 209,457 call options and 223,836 put options trading within the past two weeks, with the weekly 1/24 10-strike call seeing the most action so far today. There are also new positions being opened today at the weekly 2/7 11-strike call, while the February 13 call is home to peak call open interest.

At last check, X was trading at $9.55 -- down 4.2% for the day -- and earlier touched a new annual low of $9.43. The shares' 200-day trendline rejected a rally back in December, and the steel stock has now taken a 53% haircut in the last 12 months.