Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Frontier Group Holdings Inc (ULCC), where a total volume of 3,273 contracts has been traded thus far today, a contract volume which is representative of approximately 327,300 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 102.7% of ULCC's average daily trading volume over the past month, of 318,555 shares..