Total option volume has yet to break the 5 million mark today as the indexes and ETFs show a heavily bearish bias, according to optionMONSTER's data systems.
The SPDR S&P 500 Fund (NYSEArca:SPY) has 860,000 options traded so far, 714,000 of which are puts. That's the most significant put/call ratio we have seen in recent time.
The SPDR Industrial Fund (NYSEArca:XLI) is up next with 136,000 options, with fewer than 2,000 calls. Just behind is the iShares Emerging Markets Fund (NYSEArca:EEM) with 135,000 contracts, with a put/call ratio of 2 to 1. The iShares Russell 2000 Fund (NYSEArca:IWM) has seen 126,000 options trade, with 105,000 puts.
The CBOE Volatility Index (VIX) has 109,000 contracts changing hands. The put/call ratio here is 1 to 10, which reflects the bearish sentiment for stocks. The S&P 500 Index (SPX) options have turned over 106,000 times, followed by the PowerShares QQQ Trust (NasdaqGM:QQQ) with 105,000.
The U.S. Natural Gas Fund (NYSEArca:UNG) has 75,000 options traded. The SPDR Homebuilders Fund (NYSEArca:XHB) has seen 50,000 contracts turn over, with 46,000 puts. The SPDR Gold Shares Fund (NYSEArca:GLD) has 48,000 contracts changing hands.
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