The total option volume is 5.3 million contracts so far today as activity is mixed in the indexes and ETFs, according to optionMONSTER's data systems.
The SPDR S&P 500 Fund (SPY) has 934,000 options traded, dominated by 691,000 puts. The S&P 500 Index (SPX) options are next up with 220,000 contracts, of which 129,000 are puts.
The PowerShares QQQ Trust (QQQ) just jumped up to 223,000 options, with puts slightly outpacing calls. Just behind are the iShares Russell 2000 Fund (IWM) options at 215,000 and a put/call ratio approaching 3 to 1. The CBOE Volatility Index (VIX) has seen 170,000 contracts trade, also with a put/call ratio of better than 2 to 1.
The iShares Silver Fund (SLV) has 65,000 options moving, with puts outnumbering calls. The iShares Emerging Markets Fund (EEM) sees 56,000 contracts changing hands, 39,000 of which are puts.
The iPath S&P 500 VIX Short-Term Futures Fund (VXX) has 56,000 options traded, calls slightly outpacing puts.
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