Total option volume remains strong this morning at 6.9 million contracts so far today, with the indexes and ETFs dominated by S&P 500-related products, according to optionMONSTER data systems.
More than 1.5 million options have traded in the SPDR S&P 500 Fund (:SPY) as puts slightly edge out calls. Next up are the S&P 500 Index (:SPX) options at 492,000, with 270,000 calls. The CBOE Volatility Index (:VIX), which is derived from those SPX options, has seen 275,000 of its own options turn over, dominated by 228,000 calls.
The iShares Russell 2000 Fund (:IWM) has 172,000 contracts changing hands, with a put/call ratio of more than 3 to 1. The SPDR Energy Fund (XLE) has 151,000 options traded, with fewer than 10,000 calls. Following are the PowerShares QQQ Trust and the iShares Emerging Markets Fund (EEM), both with 134,000 options traded. Puts are leading in both, with 73,000 in the QQQ and 93,000 in the EEM.
The iPath S&P 500 VIX Short-Term Futures Note (VXX) has 122,000 options traded, with 68,000 puts. And the SPDR Gold Fund (:GLD) has volume of 105,000, with 61,000 puts.
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