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September 26, 2012  Wed 10:21 AM CT

Option action is mixed in the indexes and ETFs as total volume tops 6.1 million contracts so far today, according to optionMONSTER's data systems.

The SPDR S&P 500 Fund (SPY) has 987,000 options traded, with 640,000 puts. The S&P 500 Index (SPX) options have turned over 262,000 times, also with a put/call ratio approaching 2 to 1.

The PowerShares QQQ Trust (QQQ) has 191,000 contracts changing hands, with calls outpacing puts. Just behind are the iShares Russell 2000 Fund (IWM) options at 189,000, with puts outnumbering calls by 2 to 1. The SPDR Financial Fund (XLF) has seen 150,000 contracts trade, with a put/call ratio of 6 to 1.

The iPath S&P 500 VIX Short-Term Futures ETN (VXX) has 128,000 options traded, led by 84,000 calls. In an unusual move, the CBOE Volatility Index (VIX) options trail the VXX volume, as the former has 109,000 contracts, with 66,000 calls. The SPDR Gold Shares Fund (GLD) just hit 100,000 contracts, evenly split between calls and puts.
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