Noteworthy Monday Option Activity: CLF, FL, GCI

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Cleveland-Cliffs Inc (CLF), where a total volume of 43,509 contracts has been traded thus far today, a contract volume which is representative of approximately 4.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 48.6% of CLF's average daily trading volume over the past month, of 9.0 million shares..