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Midday index, ETF option volumes

Chris McKhann (chris.mckhann@optionmonster.com)

Total option volume is relatively strong today, closing in on 7 million contracts with some cautious sentiment in the big indexes and ETFs, according to optionMONSTER data systems.

The SPDR S&P 500 Fund (:SPY) has 883,000 options traded, with 571,000 puts. Next up are the PowerShares QQQ Trust (:QQQ) at 276,000, with 175,000 puts. Following are the iShares Russell 2000 Fund (:IWM) options at 220,000, with a put to call ratio of 2 to 1.

The iShares Emerging Markets Fund (EEM) has 186,000 contracts changing hands, with puts outpacing calls by 5 to 1. Close behind are the CBOE Volatility Index (:VIX) options at 173,000, led by 136,000 calls.

The S&P 500 Index (:SPX) has seen 129,000 options turn over, with puts slightly outpacing calls. The SPDR Oil & Gas Exploration & Production Fund (XOP) has 93,000 options traded, with a put/call ratio of more than 2 to 1. And just behind are the iPath S&P 500 VIX Short-Term Futures Note (VXX) options at 92,000, with calls outnumbering puts 2 to 1. 

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