Noteworthy Wednesday Option Activity: PKG, BCRX, TIF

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Packaging Corp of America (PKG), where a total volume of 3,295 contracts has been traded thus far today, a contract volume which is representative of approximately 329,500 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 42.7% of PKG's average daily trading volume over the past month, of 771,700 shares..