Noteworthy Thursday Option Activity: M, RILY, LLY

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Macy's Inc (M), where a total volume of 46,558 contracts has been traded thus far today, a contract volume which is representative of approximately 4.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 62.9% of M's average daily trading volume over the past month, of 7.4 million shares..