Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Meta Platforms Inc (META), where a total volume of 351,696 contracts has been traded thus far today, a contract volume which is representative of approximately 35.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 281% of META's average daily trading volume over the past month, of 12.5 million shares..