Noteworthy Tuesday Option Activity: IBM, Z, U

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in International Business Machines Corp (IBM), where a total volume of 39,272 contracts has been traded thus far today, a contract volume which is representative of approximately 3.9 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 73.2% of IBM's average daily trading volume over the past month, of 5.4 million shares..