Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Bank of America Corp (BAC), where a total volume of 175,259 contracts has been traded thus far today, a contract volume which is representative of approximately 17.5 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 47.6% of BAC's average daily trading volume over the past month, of 36.8 million shares..