Noteworthy Monday Option Activity: IBM, EA, GOOG

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in International Business Machines Corp (IBM), where a total volume of 17,264 contracts has been traded thus far today, a contract volume which is representative of approximately 1.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 45.3% of IBM's average daily trading volume over the past month, of 3.8 million shares..