Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in HanesBrands Inc (NYSE: HBI), where a total volume of 30,324 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 101.9% of HBI's average daily trading volume over the past month, of 3.0 million shares. Especially high volume was seen for the $31 strike call option expiring May 20, 2016, with 20,037 contracts trading so far today, representing approximately 2.0 million underlying shares of HBI. Below is a chart showing HBI's trailing twelve month trading history, with the $31 strike highlighted in orange:
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