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Midday index, ETF option volumes

Chris McKhann (chris.mckhann@optionmonster.com)

Total option volume is running about average at 5.6 million contracts so far today, dominated by the big indexes and ETFs, according to optionMONSTER data systems.

Just shy of 1 million options have traded in the SDPR S&P 500 Fund (:SPY), with 580,000 puts. Next up is the S&P 500 Index (:SPX) at 364,000 options, with 210,000 puts. The iShares Russell 2000 Fund (:IWM) has seen 363,000 contracts turn over, 225,000 of which are puts.

The PowerShares QQQ Trust (:QQQ) has 220,000 options changing hands with a put/call ratio of 2 to 1. The CBOE Volatility Index (:VIX) has volume of 129,000 as calls outpace puts by more than 3 to 1. Close behind is the iPath S&P 500 VIX Short-Term Futures Note (VXX) with 115,000 contracts as calls slightly eclipse puts.

The iShares Emerging Markets Fund (EEM) has 71,000 options traded, with 39,000 puts. The SPDR Gold Fund (GLD) also has volume of 71,000, with 47,000 calls.

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