Noteworthy Tuesday Option Activity: IPI, WCC, SBUX

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Intrepid Potash Inc (IPI), where a total volume of 551 contracts has been traded thus far today, a contract volume which is representative of approximately 55,100 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 48.9% of IPI's average daily trading volume over the past month, of 112,640 shares..