Notable Tuesday Option Activity: CAVM, MJN, CIT

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Cavium Inc (CAVM), where a total volume of 4,939 contracts has been traded thus far today, a contract volume which is representative of approximately 493,900 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 68.9% of CAVM's average daily trading volume over the past month, of 716,815 shares..