Option volume is strong today with more than 6.2 million contracts already traded as stocks decline, but bearish sentiment is not leading the action in indexes and ETFs, optionMONSTER data systems show.
More than 1.3 million SPDR S&P 500 Fund (:SPY) options traded, with 842,000 puts. Next up are the CBOE Volatility Index (:VIX) options at 301,000, with calls slightly outpacing puts. Just behind are the options of the S&P 500 Index (:SPX) at 283,000, with a few more puts than calls.
The iPath S&P 500 VIX Short-Term Futures Note (VXX) has 260,000 options traded, with 139,000 calls. The iShares Russell 2000 Fund (IWM) has seen 198,000 turn over, with a put/call ratio of 2 to 1.
The iShares Emerging Markets Fund (EEM) has 156,000 contracts changing hands as puts outpace calls by 10 to 1. The PowerShares QQQ Trust (:QQQ) has 132,000 options traded, with 70,000 puts.
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