Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Raytheon Co. (NYSE: RTN), where a total volume of 16,565 contracts has been traded thus far today, a contract volume which is representative of approximately 1.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 85.5% of RTN's average daily trading volume over the past month, of 1.9 million shares. Particularly high volume was seen for the $145 strike call option expiring August 19, 2016, with 9,444 contracts trading so far today, representing approximately 944,400 underlying shares of RTN. Below is a chart showing RTN's trailing twelve month trading history, with the $145 strike highlighted in orange:
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