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Index, ETF option volumes near midday

Chris McKhann (chris.mckhann@optionmonster.com)

Total option volume is light today at fewer than 4.3 million contracts so far, with puts topping the action in the largest indexes and ETFs, according to optionMONSTER's data systems.

The SPDR S&P 500 Fund (SPY) has just 375,000 options traded, with a put/call ratio of 2 to 1. The S&P 500 Index (SPX) options have turned over 145,000 times, with a similar ratio.

The iShares Russell 2000 Fund (IWM) has seen 120,000 contracts change hands, with puts outpacing calls by almost 4 to 1. The CBOE Volatility Index (VIX) just breaks 100,000 options, 65,000 of which are calls.

The PowerShares QQQ Trust (QQQ) has 75,000 contracts traded, with slightly more puts than calls. Just behind are the iShares Emerging Markets Fund (EEM) options at 74,000, as calls barely eclipse puts. The SPDR Gold Shares Fund (GLD) has just 56,000 options moving, with 31,000 puts.

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