Index, ETF option volumes near midday

Option volume is bit light this morning with just 4.8 million contracts traded so far with heavy call action in the index and ETF options, according to optionMONSTER's data systems.

The SPDR S&P 500 Fund (SPY) has 846,000 options traded, 458,000 calls. The iShares Russell 2000 Fund (IWM) has seen 338,000 contraacts turn over, with puts slightly outpacing calls. The S&P 500 Index (:SPX) options have traded 227,000 times, 141,000 of which are puts.

The CBOE Volatility Index (:VIX) has 135,000 contracts changing hands as calls outnumber puts by 2 to 1. Not far behind are the PowerShares QQQ Trust (QQQ) with 116,000, led by 71,000 puts.

The SPDR Gold Shares Trust (GLD) options total 95,000, with 59,000 calls. The ProShares UltraShort 20+ Year Treasury Fund (TBT) has 65,000 contracts moving, with 45,000 puts. And the iPath S&P 500 VIX Short-Term Futures ETN (VXX) has 61,000 options traded, 37,000 of which are calls.

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