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Noteworthy Wednesday Option Activity: UNP, PG, VAR

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Union Pacific Corp (UNP), where a total volume of 36,468 contracts has been traded thus far today, a contract volume which is representative of approximately 3.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 127.3% of UNP's average daily trading volume over the past month, of 2.9 million shares..
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