Index, ETF option volumes near midday

Chris McKhann (chris.mckhann@optionmonster.com)

Total option volume is closing in on just 5 million contracts so far today, while the action in the indexes and ETFs appears focused mostly on hedging, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has 903,000 contracts traded, with a put/call ratio of more than 2 to 1. Next are the iShares Russell 2000 Fund (IWM) with option volume of 213,000 as puts outpace calls by 6 to 1. Not far behind are the S&P 500 Index (:SPX) options at 188,000, also with a put/call ratio of more than 2 to 1.

The CBOE Volatility Index (:VIX) has 132,000 contracts changing hands, 83,000 of which are calls. The PowerShares QQQ Trust (QQQ) follows with 110,000 options, including 68,000 puts. (See related story )

The SPDR Gold Shares (GLD) has seen more than 108,000 options turn over, with slightly more calls than puts. The iShares Emerging Markets Fund (EEM) has 78,000 options moving, led by 50,000 puts.

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