Notable Friday Option Activity: BBY, C, MMM

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Best Buy Inc (BBY), where a total volume of 13,677 contracts has been traded thus far today, a contract volume which is representative of approximately 1.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 57.2% of BBY's average daily trading volume over the past month, of 2.4 million shares..