Noteworthy Tuesday Option Activity: PDLI, AKS, ROST

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in PDL BioPharma Inc (PDLI), where a total volume of 5,129 contracts has been traded thus far today, a contract volume which is representative of approximately 512,900 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 51.9% of PDLI's average daily trading volume over the past month, of 988,350 shares..