Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Colgate-Palmolive Co. (NYSE: CL), where a total volume of 30,310 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 96% of CL's average daily trading volume over the past month, of 3.2 million shares. Especially high volume was seen for the $80 strike call option expiring November 18, 2016, with 11,244 contracts trading so far today, representing approximately 1.1 million underlying shares of CL. Below is a chart showing CL's trailing twelve month trading history, with the $80 strike highlighted in orange:
|