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Index, ETF option volumes near midday

Chris McKhann (chris.mckhann@optionmonster.com)

Option volume is very strong today as 8.8 million contracts have already changed hands, with hedging apparently the trade of the day in major indexes and ETFs, optionMONSTER data system show.

More than 1.5 million SPDR S&P 500 Fund (SPY) options have traded, with 989,000 puts. The iShares Russell 2000 Fund (IWM) has 393,000 contracts changing hands, with a put/call ratio of more than 5 to 1. Just behind are the S&P 500 Index (:SPX) options at 392,000, led by 273,000 puts.
The iPath S&P 500 VIX Short-Term Futures Note (VXX) has 336,000 options turning over, with puts slightly outpacing calls. Following are the CBOE Volatility Index (:VIX) contracts at 316,000, with 203,000 calls.

The PowerShares QQQ Trust (:QQQ) is just behind with 315,000 and a put/call ratio of 2 to 1. The iShares FTSE China 25 Index (:FXI) has seen 238,000 contracts trade, with 232,000 puts.

The SPDR Financial Fund (:XLF) has 227,000 options moving , dominated by 212,000 puts. The iShares Emerging Markets Fund (:EEM) has 160,000 options traded, with 142,000 puts.

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