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Midday index, ETF option volumes

Chris McKhann (chris.mckhann@optionmonster.com)

Total option volume is quite strong today at 7.8 million contracts so far, with strong and relatively bullish action in the big indexes and ETFs, according to optionMONSTER data systems.

More than 1.2 million options have traded in the SPDR S&P 500 Fund (:SPY), with 646,000 puts. Next up are 464,000 contracts in the S&P 500 Index (:SPX), with 267,000 calls, which rarely outpace puts. The CBOE Volatility Index (:VIX) options follow with 313,000, led by 243,000 calls.

The iShares Russell 2000 Fund (IWM) has 215,000 contracts changing hands, with 133,000 puts. The iPath S&P 500 VIX Short-Term Futures Note (:VXX) has volume of 176,000, with puts outpacing calls by 2 to 1.

The PowerShares QQQ Trust (:QQQ) has seen 143,000 contracts turn over, with 83,000 puts. The SPDR Gold Shares Fund (GLD) has 127,000 options traded, with slightly more puts than calls. The iShares Emerging Markets Fund (EEM) has 120,000 options moving, with 66,000 calls.

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