Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in General Mills, Inc. (NYSE: GIS), where a total volume of 16,207 contracts has been traded thus far today, a contract volume which is representative of approximately 1.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 52.4% of GIS's average daily trading volume over the past month, of 3.1 million shares. Especially high volume was seen for the $65 strike put option expiring September 16, 2016, with 5,937 contracts trading so far today, representing approximately 593,700 underlying shares of GIS. Below is a chart showing GIS's trailing twelve month trading history, with the $65 strike highlighted in orange:
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