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Midday index, ETF option volumes

Chris McKhann (chris.mckhann@optionmonster.com)

Total option volume is running well below average at just 4.3 million contracts so far, with most of the action in the big indexes and ETFs, optionMONSTER data systems show.

The SPDR S&P 500 Fund (:SPY) retains its usual spot at the top of the heap, with 389,000 options traded as puts outpace calls by more than 2 to 1. Next up is the iShares Russell 2000 Fund (:IWM) at 222,000 options, with a put/call ratio of 4 to 1. Not far behind is the PowerShares QQQ Trust (QQQ) at 196,000 contracts, 109,000 of which are puts.

The S&P 500 Index (:SPX) has 170,000 options changing hands as puts eclipse calls by 2 to 1. The CBOE Volatility Index (:VIX) has volume of 88,000, led by  56,000 calls.

The iShares Emerging Markets Fund (EEM) has seen 83,000 contracts turn over,  with 63,000 puts. And just behind is the iPath S&P 500 VIX Short-Term Futures Note (VXX) at 81,000 options, with a put/call ratio of 2 to 1.

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