Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Advance Auto Parts Inc (AAP), where a total volume of 9,016 contracts has been traded thus far today, a contract volume which is representative of approximately 901,600 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 132.3% of AAP's average daily trading volume over the past month, of 681,230 shares..