Noteworthy Wednesday Option Activity: RAI, HOG, MON

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Reynolds American Inc (RAI), where a total volume of 44,416 contracts has been traded thus far today, a contract volume which is representative of approximately 4.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 89.4% of RAI's average daily trading volume over the past month, of 5.0 million shares..