Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Advanced Micro Devices Inc (AMD), where a total volume of 321,442 contracts has been traded thus far today, a contract volume which is representative of approximately 32.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 85.8% of AMD's average daily trading volume over the past month, of 37.5 million shares..