Noteworthy Friday Option Activity: CMG, IBM, CNC

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Chipotle Mexican Grill Inc (CMG), where a total volume of 19,575 contracts has been traded thus far today, a contract volume which is representative of approximately 2.0 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 176.4% of CMG's average daily trading volume over the past month, of 1.1 million shares..