Noteworthy Friday Option Activity: COF, PANW, ON

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Capital One Financial Corp (COF), where a total volume of 13,126 contracts has been traded thus far today, a contract volume which is representative of approximately 1.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 55.3% of COF's average daily trading volume over the past month, of 2.4 million shares..