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Index, ETF option volumes near midday

Chris McKhann (chris.mckhann@optionmonster.com)

Option volume is strong with more than 8.3 million contracts already traded today as bullish sentiment dominates activity in major indexes and ETFs, optionMONSTER data systems show.

The SPDR S&P 500 Fund (:SPY) has 1.6 million options traded, with puts slightly outpacing calls. The S&P 500 Index (:SPX) options follow with 583,000, though calls make up most of that volume at 324,000, which is very unusual.

The iShares Russell 2000 Fund (IWM) has seen 362,000 contracts trade, with 235,000 puts. Following is the PowerShares QQQ Trust (QQQ) with volume of 297,000, led by 173,000 calls.

The CBOE Volatility Index (:VIX) has 180,000 options changing hands, with 95,000 calls. Just behind are the iPath S&P 500 VIX Short-Term Futures Note (VXX) options at 160,000, with 100,000 puts.

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