Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Arrowhead Pharmaceuticals Inc (ARWR), where a total volume of 6,980 contracts has been traded thus far today, a contract volume which is representative of approximately 698,000 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 47.7% of ARWR's average daily trading volume over the past month, of 1.5 million shares..