Puts are back in action in the indexes and ETFs amid today's market downturn as we see strong total option volume of 6.5 million contracts, according to optionMONSTER's data systems.
The SPDR S&P 500 Fund (SPY) takes its typical No. 1 spot with more than 1 million options trading, 684,000 of which are puts. Next up are the iShares Russell 2000 Fund (IWM) options with 248,000 and a put/call ratio of almost 3 to 1.
The iShares Emerging Markets Fund (EEM) tops 238,000 contracts so far, with 213,000 puts. The PowerShares QQQ Trust (QQQ) is also above the 200,000 mark with volume of 209,000, including 114,000 puts.
The S&P 500 Index (:SPX) options have turned over 149,000 times with a put/call ratio of better than 2 to 1. Just behind are the CBOE Volatility Index (:VIX) options at 140,000, only 16,000 of which are puts. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) has seen 77,000 contracts change hands, with 45,000 calls.
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