Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Celgene Corp. (NASD: CELG), where a total volume of 30,195 contracts has been traded thus far today, a contract volume which is representative of approximately 3.0 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 63.5% of CELG's average daily trading volume over the past month, of 4.8 million shares. Especially high volume was seen for the $124 strike call option expiring November 20, 2015, with 6,365 contracts trading so far today, representing approximately 636,500 underlying shares of CELG. Below is a chart showing CELG's trailing twelve month trading history, with the $124 strike highlighted in orange:
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