Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in MGM Resorts International (MGM), where a total volume of 31,643 contracts has been traded thus far today, a contract volume which is representative of approximately 3.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 54% of MGM's average daily trading volume over the past month, of 5.9 million shares..