Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Oracle Corp (ORCL), where a total volume of 61,854 contracts has been traded thus far today, a contract volume which is representative of approximately 6.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 96.2% of ORCL's average daily trading volume over the past month, of 6.4 million shares..