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Midday index, ETF option volumes

Chris McKhann (chris.mckhann@optionmonster.com)

Total option volume has finally picked up today with 6.6 million contracts trading so far, boosted by strong action in the big indexes and ETFs, optionMONSTER data systems show.

More than 1.2 million options have traded in the SPDR S&P 500 Fund (:SPY), including 705,000 puts. Next up are the S&P 500 (:SPX) options with volume of 300,000 and a put/call ratio of more than 2 to 1.

The iShares Russell 2000 Fund (IWM) follows at 281,000, with a put/call ratio of 3 to 1. The PowerShares QQQ Trust (:QQQ) has 232,000 contracts moving, with 148,000 puts.

The iPath S&P 500 VIX Short-Term Futures Note (:VXX) has seen 188,000 contracts turn over, with 115,000 calls. The CBOE Volatility Index (:VIX) options follow with 160,000 as calls slightly outpace puts.

The iShares Emerging Markets Fund (EEM) has 92,000 contracts changing hands, with 51,000 puts. And the SPDR Gold Shares Fund (GLD) has 80,000 options traded, evenly split between calls and puts.

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