Notable Friday Option Activity: HPQ, DGX, DE

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Hewlett-Packard Co (NYSE: HPQ), 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 (given that every 1 contract represents 100 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. Particularly high volume was seen for the $35 strike call option expiring June 19, 2015, with 14,525 contracts trading so far today, representing approximately 1.5 million underlying shares of HPQ. Below is a chart showing HPQ's trailing twelve month trading history, with the $35 strike highlighted in orange:

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Quest Diagnostics , Inc. (NYSE: DGX) saw options trading volume of 15,639 contracts, representing approximately 1.6 million underlying shares or approximately 118.9% of DGX's average daily trading volume over the past month, of 1.3 million shares.

Particularly high volume was seen for the $80 strike call option expiring June 19, 2015, with 2,741 contracts trading so far today, representing approximately 274,100 underlying shares of DGX. Below is a chart showing DGX's trailing twelve month trading history, with the $80 strike highlighted in orange:

And Deere & Co. (NYSE: DE) options are showing a volume of 24,873 contracts thus far today. That number of contracts represents approximately 2.5 million underlying shares, working out to a sizeable 103.7% of DE's average daily trading volume over the past month, of 2.4 million shares.

Particularly high volume was seen for the $93.50 strike call option expiring May 22, 2015, with 2,935 contracts trading so far today, representing approximately 293,500 underlying shares of DE. Below is a chart showing DE's trailing twelve month trading history, with the $93.50 strike highlighted in orange:

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