Notable Tuesday Option Activity: ACHN, AMCX, MSFT

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Achillion Pharmaceuticals Inc (ACHN), where a total volume of 5,500 contracts has been traded thus far today, a contract volume which is representative of approximately 550,000 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 67.4% of ACHN's average daily trading volume over the past month, of 815,425 shares..