Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in CVS Health Corporation (CVS), where a total volume of 74,166 contracts has been traded thus far today, a contract volume which is representative of approximately 7.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 71.6% of CVS's average daily trading volume over the past month, of 10.4 million shares..