Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Hewlett-Packard Co , where a total volume of 116,263 contracts has been traded thus far today, a contract volume which is representative of approximately 11.6 million underlying shares . That number works out to 132.1% of HPQ's average daily trading volume over the past month, of 8.8 million shares.