Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in United Airlines Holdings Inc (UAL), where a total volume of 75,767 contracts has been traded thus far today, a contract volume which is representative of approximately 7.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 83.9% of UAL's average daily trading volume over the past month, of 9.0 million shares..