Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Wayfair Inc (W), where a total volume of 47,893 contracts has been traded thus far today, a contract volume which is representative of approximately 4.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 91.5% of W's average daily trading volume over the past month, of 5.2 million shares..