Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Snowflake Inc (SNOW), where a total volume of 386,545 contracts has been traded thus far today, a contract volume which is representative of approximately 38.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 480.9% of SNOW's average daily trading volume over the past month, of 8.0 million shares..