Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Diamondback Energy, Inc. (Symbol: FANG), where a total volume of 72,429 contracts has been traded thus far today, a contract volume which is representative of approximately 7.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 474.4% of FANG's average daily trading volume over the past month, of 1.5 million shares. Particularly high volume was seen for the $75 strike put option expiring December 20, 2019, with 31,566 contracts trading so far today, representing approximately 3.2 million underlying shares of FANG. Below is a chart showing FANG's trailing twelve month trading history, with the $75 strike highlighted in orange:

Yum! Brands Inc (Symbol: YUM) options are showing a volume of 23,504 contracts thus far today. That number of contracts represents approximately 2.4 million underlying shares, working out to a sizeable 107.9% of YUM's average daily trading volume over the past month, of 2.2 million shares. Particularly high volume was seen for the $99 strike call option expiring November 08, 2019, with 7,417 contracts trading so far today, representing approximately 741,700 underlying shares of YUM. Below is a chart showing YUM's trailing twelve month trading history, with the $99 strike highlighted in orange:

And Huntington Ingalls Industries, Inc. (Symbol: HII) options are showing a volume of 2,303 contracts thus far today. That number of contracts represents approximately 230,300 underlying shares, working out to a sizeable 102.3% of HII's average daily trading volume over the past month, of 225,165 shares. Especially high volume was seen for the $250 strike call option expiring December 20, 2019, with 2,166 contracts trading so far today, representing approximately 216,600 underlying shares of HII. Below is a chart showing HII's trailing twelve month trading history, with the $250 strike highlighted in orange:

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