Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Citigroup Inc (C), where a total volume of 54,199 contracts has been traded thus far today, a contract volume which is representative of approximately 5.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 43% of C's average daily trading volume over the past month, of 12.6 million shares..