Notable Friday Option Activity: PEP, UBER, NSC

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in PepsiCo Inc (PEP), where a total volume of 27,894 contracts has been traded thus far today, a contract volume which is representative of approximately 2.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 48.2% of PEP's average daily trading volume over the past month, of 5.8 million shares..