Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Apple Inc (AAPL), where a total volume of 1.1 million contracts has been traded thus far today, a contract volume which is representative of approximately 106.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 85.8% of AAPL's average daily trading volume over the past month, of 124.3 million shares..