Options Trading News

October 17, 2011  Mon 3:23 PM CT

Option volume remained below average as equities continued to push lower today, according to tradeMONSTER's LiveAction data system.
The SPDR S&P 500 Fund (SPY) topped the total option volume list with 2.26 million contracts. The S&P 500 Index (SPX) added 817,000 as it fell almost 2 percent. The CBOE Volatility Index (VIX), which is derived from those SPX options, was up 18 percent as 304,000 contracts traded.

Apple (AAPL) remained third on the top 10 volume list with 739,000 options, though it finished lower on the day. Bank of America (BAC) saw 281,000 options change hands, while Intel (INTC) had 176,000.

The iShares Russell 2000 Index Fund (IWM) saw 625,000 options trade, followed by the PowerShares QQQ Trust (QQQ) with 505,000. The SPDR Financial Fund (XLF) had 277,000 contracts, and the MSCI Emerging Markets Fund (EEM) added 185,000.

Volume Leaders

(Chart courtesy of tradeMONSTER)
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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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