Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Micron Technology Inc. (NASD: MU), where a total volume of 132,905 contracts has been traded thus far today, a contract volume which is representative of approximately 13.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 49.5% of MU's average daily trading volume over the past month, of 26.8 million shares. Particularly high volume was seen for the $19 strike call option expiring October 07, 2016, with 22,994 contracts trading so far today, representing approximately 2.3 million underlying shares of MU. Below is a chart showing MU's trailing twelve month trading history, with the $19 strike highlighted in orange:
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