Options Trading News

December 5, 2011  Mon 10:20 AM CT

Total option volume is light at fewer than 5 million contracts so far, as the typical names top the index and ETF activity, according to optionMONSTER's data systems.

The SPDR S&P 500 Fund (SPY) options have traded 919,000 times, 563,000 of them puts. The S&P 500 Index (SPX) options trade 284,000 contracts, with puts outpacing calls by more than 2 to 1.

The PowerShares QQQ Trust (QQQ) has seen 168,000 options change hands, also at a 2-1 put/call ratio. The iShares Russell 2000 Index Fund (IWM) is the only other name to break the 100,000 mark, with 111,000 contracts.

The SPDR Financial Fund (XLF) has 99,000 contracts while the iShares Emerging Markets Fund (EEM) has 77,000, 71,000 of which are puts.

The CBOE Volatility Index (VIX) is trading 53,000 options, and only 7,000 are puts. The Nasdaq 100 Index (NDX) is up next with just 28,000 contracts. Just behind is the SPDR Oil & Gas Exploration & Production Fund (XOP) with 27,000, fewer than 500 of them calls.
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As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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