Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Piper Sandler Companies (PIPR), where a total volume of 503 contracts has been traded thus far today, a contract volume which is representative of approximately 50,300 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 60.2% of PIPR's average daily trading volume over the past month, of 83,500 shares..