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Index, ETF option volumes near midday

Chris McKhann (chris.mckhann@optionmonster.com)

The option market appears to be in "hurry up and wait" mode before tomorrow's Fed announcement as just 4.8 million contracts have changed hands so far today, optionMONSTER data systems show.

The SPDR S&P 500 Fund (:SPY) has 670,000 options traded, with 395,000 puts. Next up are the S&P 500 Index (:SPX) options at 215,000, with 130,000 puts. Following closely are the CBOE Volatility Index (:VIX) contracts with volume of 201,000 as calls barely outpace puts.

The iShares Emerging Markets Fund (EEM) has 170,000 options traded, led by 95,000 calls. The iPath S&P 500 VIX Short-Term Futures Note (:VXX) has seen 120,000 contracts turn over, with a put/call ratio of 2 to 1. (See related story )

The iShares Russell 2000 Fund (:IWM) has 97,000 contracts changing hands, with 61,000 puts. And the SPDR Gold Shares Fund (GLD) has 87,000 options traded, with puts slightly outnumbering calls.

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