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Index, ETF volume bearish near midday

Chris McKhann (chris.mckhann@optionmonster.com)

Total option volume is relatively light so far today at 4.7 million contracts, though the sentiment appears quite bearish in the top indexes and ETFs, according to optionMONSTER data systems.

The SPDR S&P 500 Fund (:SPY) has seen 750,00 options trade, with puts outpacing calls by about 2 to 1. Next up are the iShares Emerging Markets Fund (EEM) options at 235,000, led by 198,000 puts.

The iShares Russell 2000 Fund (IWM) has volume of 168,000 contracts and a put/call ratio of almost 5 to 1. Just behind are the S&P 500 Index (:SPX) options at 155,000, with 102,000 puts.

The iPath S&P 500 VIX Short-Term Futures Note (:VXX) has 124,000 options turning over, with 73,000 puts. The PowerShares QQQ Trust (QQQ) has 116,000 contracts moving, with 70,000 puts. And the CBOE Volatility Index (:VIX) has 110,000 options traded, dominated by 94,000 calls.

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