Noteworthy Monday Option Activity: FCX, ALGN, REGN

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Freeport-McMoran Copper & Gold (FCX), where a total volume of 121,115 contracts has been traded thus far today, a contract volume which is representative of approximately 12.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 60.5% of FCX's average daily trading volume over the past month, of 20.0 million shares..