Noteworthy Wednesday Option Activity: BIIB, GILD, PG

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Biogen Inc (BIIB), where a total volume of 11,054 contracts has been traded thus far today, a contract volume which is representative of approximately 1.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 82.3% of BIIB's average daily trading volume over the past month, of 1.3 million shares..