Notable Wednesday Option Activity: ARQT, MU, PCTY

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Arcutis Biotherapeutics Inc (ARQT), where a total volume of 803 contracts has been traded thus far today, a contract volume which is representative of approximately 80,300 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 49.5% of ARQT's average daily trading volume over the past month, of 162,305 shares..