Option volume remains relatively light at 4.9 million contracts so far today, but hedging appears to be the foremost trade again in the indexes and ETFs, according to optionMONSTER's data systems.
The SPDR S&P 500 Fund (SPY) has 836,000 contracts traded, with 520,000 puts. The iShares Russell 2000 Fund (IWM) has 291,000 changing hands with a put/call ratio of more than 2 to 1. The S&P 500 Index (SPX) has seen 218,000 contracts turn over, 141,000 of which are puts.
Just behind are the PowerShares QQQ Trust (QQQ) with 200,000, with 130,000 puts. The CBOE Volatility Index (VIX) has 152,000 contracts, with 88,000 calls. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) is next with 85,000 options, seeing slightly more puts than calls.
The SPDR Gold Shares Fund (GLD) has 72,000 options changing hands, led by 50,000 calls. The iShares Emerging Markets Fund (EEM) has 68,000 contracts, including 40,000 calls. And the SPDR Financial Fund (XLF) has 55,000 options, dominated by 40,000 puts.
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