Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Salesforce.com Inc (NYSE: CRM), where a total volume of 22,344 contracts has been traded thus far today, a contract volume which is representative of approximately 2.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 53.2% of CRM's average daily trading volume over the past month, of 4.2 million shares. Especially high volume was seen for the $72.50 strike put option expiring July 15, 2016, with 8,753 contracts trading so far today, representing approximately 875,300 underlying shares of CRM. Below is a chart showing CRM's trailing twelve month trading history, with the $72.50 strike highlighted in orange:
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