Noteworthy Monday Option Activity: ARNA, HOG, CWH

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Arena Pharmaceuticals Inc (ARNA), where a total volume of 63,083 contracts has been traded thus far today, a contract volume which is representative of approximately 6.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 1279.6% of ARNA's average daily trading volume over the past month, of 492,995 shares..