The SPDR S&P 500 Fund (SPY) has 810,000 contracts traded, 472,000 of which are puts. The iShares Russell 2000 Fund (IWM) is the next on the volume list with 205,000 options, including 122,000 puts.
The S&P 500 Index (SPX) has 146,000 options turning over, with a put/call ratio of less than 2 to 1. The CBOE Volatility Index (VIX), which is based on those SPX options, is seeing 123,000 of its own contracts change hands as calls outpace puts by 2 to 1.
The SPDR Financial Fund (XLF) has seen 119,000 trade, dominated by 97,000 calls. Just behind are the PowerShares QQQ Trust (QQQ) contracts at 118,000, evenly split between calls and puts. The iShares Emerging Markets Fund (EEM) has 72,000 options traded, also evenly split.
