Why is Volume Important?
Volume is important as it shows the number of contracts traded on that particular day. It is also important to understand that options are based on the underlying security and a high volume normally translates into a higher level of open interest in the options traded on that security.
Watching both open interest and volume can offer a trader great insight into what other traders may be doing allowing them to take advantage of anomalies in certain options as they occur. ??
To read more:
Here’s an?interesting example:?Options News Rundown 11-18-13: An Active But Orderly Twitter Options Debut
Apple options always provide?good reading: Apple Options Volume Jumps on Investment