Options Wonderland

[Tommy86]

hey, another newbie question:

does volume on an option mean volume of contracts?

for example i was looking at SYQOW which has volume of 16 so far today. does that mean it was traded just 16 times meaning 16 x Last Sale 0.68$ = 10.88$ dollarvolume?

or is it 16 contracts (1 contract 100 options?):

1600 x 0.68$ = 1088$

thanks very much for helping! i want to start trading options soon so i need to get the basics first ;)