Noteworthy Friday Option Activity: PENN, AMCX, EXPE

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Penn National Gaming Inc (PENN), where a total volume of 8,388 contracts has been traded thus far today, a contract volume which is representative of approximately 838,800 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 77.2% of PENN's average daily trading volume over the past month, of 1.1 million shares..