Notable Thursday Option Activity: QCOM, MYL, GM

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Qualcomm Inc (QCOM), where a total volume of 218,537 contracts has been traded thus far today, a contract volume which is representative of approximately 21.9 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 312.5% of QCOM's average daily trading volume over the past month, of 7.0 million shares..