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Index, ETF option volumes near midday

Chris McKhann (chris.mckhann@optionmonster.com)

Total option volume tops 6 million contracts so far today, with the big action in the indexes and ETFs, according to optionMONSTER's data systems.

The SPDR S&P 500 Fund (SPY) has 567,000 contracts changing hands, dominated by 410,000 puts. Next up are the iShares Russell 2000 Fund (IWM) options with 301,000, with a put/call ratio of more than 3 to 1. Just behind are the CBOE Volatility Index (:VIX) options with 295,000 contracts, as calls just outpace puts.

The S&P 500 Index (:SPX) has turned over 202,000 contracts, with 126,000 puts. The PowerShares QQQ Trust (:QQQ) has 120,000 contracts changing hands, 70,000 of which are puts. Following closely are the SPDR Gold Shares (GLD) options at 109,000, led by 79,000 calls.

The iPath S&P 500 VIX Short-Term Futures ETN (VXX) has 86,000 options traded, with calls just outnumbering puts.

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