Notable Thursday Option Activity: IBM, MSFT, CRWD

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 96,661 contracts has been traded thus far today, a contract volume which is representative of approximately 9.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 296% of IBM's average daily trading volume over the past month, of 3.3 million shares..