Notable Tuesday Option Activity: NEWR, USCR, ENV

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in New Relic Inc (NEWR), where a total volume of 5,600 contracts has been traded thus far today, a contract volume which is representative of approximately 560,000 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 110.6% of NEWR's average daily trading volume over the past month, of 506,540 shares..