Option volume remains extremely light as Labor Day weekend approaches.
Barely 3.3 million contracts have traded so far this morning, with the SPDR S&P 500 Fund (SPY) and the iShares Russell 2000 Fund (IWM) as the only exchange-traded products or indexes to break 100,000 contracts.
The SPY has 305,000 contracts traded, with a put to call ratio just short of 2-1.
The IWM, which has been outperforming the broader market following a long period of weakness, has 107,000 contracts. More than 80,000 of those are puts. The S&P 500 Index (SPX) options turn over 83,000 times, with puts outpacing calls 2-1. Just behind are the PowerShares QQQ Trust (QQQ) options with 78,000, 48,000 of which are puts.
The US Oil Fund (USO) has 68,000 contracts changing hands, with 55,000 puts. And the SPDR Gold Trust Fund (GLD) has 66,000 options traded, with 40,000 calls.
More From optionMONSTER
- Largest option buying in equities so far
- Trade sees floor beneath Gol Linhas
- Bears think Rock Tenn is boxed in
- Labor Day weekend