Notable Friday Option Activity: ON, DLTR, LULU

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in ON Semiconductor Corp (ON), where a total volume of 38,775 contracts has been traded thus far today, a contract volume which is representative of approximately 3.9 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 43.3% of ON's average daily trading volume over the past month, of 9.0 million shares..