Index, ETF option volumes near midday
Total option volume just tops 5.3 million contracts so far today, as hedging appears to lead the action in major indexes and ETFs, according to optionMONSTER's data systems.
The SPDR S&P 500 Fund (SPY) has 666,000 options traded, led by 470,000 puts. Next up are the SPDR Financial Fund (XLF) options at 307,000, dominated by 298,000 puts. The S&P 500 Index (:SPX) options have turned over 192,000 times, with a put/call ratio of more than 2 to 1.
Just behind are the iShares Russell 2000 Fund (IWM) options at 188,000, with 168,000 puts. The PowerShares QQQ Trust (QQQ) has 115,000 contracts changing hands, though it does see 70,000 calls moving. The CBOE Volatility Index (:VIX) has 91,000 options turning over, also with 70,000 calls. The iShares Emerging Markets Fund (EEM) has 67,000 contracts changing hands, 51,000 of which are calls.
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