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Option volume leaders in midday trade

By Chris McKhann (chris.mckhann@optionmonster.com)

The equity markets may be climbing into the green, but most of the names on tradeMONSTER's LiveAction top-10 option volume list are down on the day.

The S&P 500 is up 0.2 percent after climbing out of the red at the open. The SPDR S&P 500 Fund (NYSEArca:SPY) leads the options volume with 743,000 contracts. The S&P 500 Index (TSXV:SPX.V) options are No. 3 with 207,000. The CBOE Volatility Index is down 3.4 percent to 21.10 and sees 82,000 options change hands.

Apple (NasdaqGS:AAPL) jumps into second place with option volume of 230,000, even as the stock is down 2.3 percent on the day. Bank of American is in fifth with 111,000 contracts traded, also down on the day though only fractionally. Research In Motion (NasdaqGS:RIMM) is just behind with 109,000 options as that stock continues to slide and gives up another 4 percent today.

The iShares Russell 2000 Index Fund (NYSEArca:IWM) is up 0.4 percent on the day and has 181,000 contracts traded. The PowerShares QQQ Trust (NasdaqGM:QQQ) is up fractionally with 90,000 options changing hands. The other equity fund on the list is the iShares MSCI Emerging Markets Index Fund (NYSEArca:EEM) with volume of 68,000.

Taking the ninth spot and rounding out the top 10 is the iShares Silver Fund (NYSEArca:SLV), which is also down fractionally on the day with 77,000 options traded.

(Chart courtesy of tradeMONSTER )

TM Volume Leaders