Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Northrop Grumman Corp (NOC), where a total volume of 4,002 contracts has been traded thus far today, a contract volume which is representative of approximately 400,200 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 44.4% of NOC's average daily trading volume over the past month, of 901,835 shares..