Noteworthy Wednesday Option Activity: CSCO, STZ, LUV

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Cisco Systems Inc (CSCO), where a total volume of 85,890 contracts has been traded thus far today, a contract volume which is representative of approximately 8.6 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 45.3% of CSCO's average daily trading volume over the past month, of 18.9 million shares..