Options Trading News

September 19, 2012  Wed 10:17 AM CT

Total option volume just tops 5 million so far today as bullish sentiment is apparent across many indexes and ETFs, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has 643,000 options traded, and in a rare occurrence calls outpace puts with 33,000 of the former. The S&P 500 Index (SPX) option volume is not far behind at 486,000 with a put/call ratio of 2 to 1 as the September VIX futures settle this morning. The CBOE Volatility Index (VIX) options have changed hands 156,000 times, with calls outpacing puts by 4 to 1.

The PowerShares QQQ Trust (QQQ) has 132,000 options trading, with 76,000 calls. Not far behind are the SPDR Gold Shares Fund (GLD) contracts at 124,000 as calls outnumber puts by 5 to 1.

The iShares Russell 2000 Fund (IWM) has seen 98,000 options trade, dominated by 76,000 puts. The U.S. Oil Fund (USO) has 85,000 contracts turning over, with puts slightly outpacing calls.

Just behind are the options in the iShares Emerging Markets Fund (EEM) at 82,000, which also has calls outpacing puts by 4 to 1. The iShares Silver Fund (SLV) has 76,000 options traded, led by 50,000 calls.
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The covered call and unhedged risk

I have written a few things on the Covered Call Strategy over the last two weeks. Please understand that those two previous articles plus this one do not constitute a proper, fully in-depth lesson on the Covered Call Strategy like we have in our classes at Option Monster Education. I have picked out a few topics that I believe were worth noting and today I am going to add the final one.

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