Options Trading News

October 5, 2012  Fri 10:23 AM CT

Total option volume tops 6 million contracts so far today, with typical names seeing the most action in indexes and ETFs, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has 948,000 options traded, with 517,000 puts. The next largest volume is in the S&P 500 Index (SPX) options with 315,000 contracts, 188,000 of which are puts.

The iShares Russell 2000 Fund (IWM) has 189,000 contracts changing hands, with 107,000 puts. The CBOE Volatility Index (VIX) options follow at 162,000 as calls slightly outnumber puts.

The PowerShares QQQ Trust (QQQ) has 144,000 contracts, with puts slightly outpacing calls.
The SPDR Financial Fund (XLF) has 122,000 options traded, 105,000 of which are calls.

Just behind are the iShares Emerging Markets Fund (EEM) options at 120,000, with calls outstripping puts by 2 to 1. The SPDR Gold Shares Fund (GLD) has 88,000 options traded, evenly split between calls and puts.
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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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