Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Eli Lilly (LLY), where a total volume of 86,655 contracts has been traded thus far today, a contract volume which is representative of approximately 8.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 195.2% of LLY's average daily trading volume over the past month, of 4.4 million shares..