Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Herbalife Ltd (HLF), where a total volume of 16,847 contracts has been traded thus far today, a contract volume which is representative of approximately 1.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 79.9% of HLF's average daily trading volume over the past month, of 2.1 million shares..