Options Trading News

August 7, 2012  Tue 10:31 AM CT

Total option volume is picking up today as contracts have already topped 6 million contracts, and some interesting names are climbing to the top of the index and ETF activity on optionMONSTER's data systems.

The SPDR S&P 500 Fund (SPY) has 606,000 contracts, with 385,000 puts. Next up are the iShares Russell 2000 Fund (IWM) options at 251,000 as puts outpace calls by 3 to 1. Not far behind are the S&P 500 Index (SPX) contracts at 228,000, including 147,000 puts. The iShares Emerging Markets Fund (EEM) also tops 200,000, with a put/call ratio of about 2 to 1.

The S&P Oil & Gas Exploration & Production Fund (XOP) has 135,000 contracts traded, and all but 3,000 of them are puts. The CBOE Volatility Index (VIX) has 126,000, with calls outnumbering puts by 3 to 1. The PowerShares QQQ Trust (QQQ) sees 90,000 options changing hands, also with a put/call ratio of 2 to 1. And the SPDR Technology Fund (XLK) has 83,000 options traded, with 77,000 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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