Options Trading News

October 15, 2012  Mon 10:22 AM CT

Total option volume is again light with just 4.5 million contracts traded so far today, and hedging appears to lead the activity in indexes and ETFs, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has just 420,000 options traded, led by 300,000 puts. The CBOE Volatility Index (VIX) is next on the top-volume list with 196,000 options as calls outpace puts by 4 to 1.

The S&P 500 Index (SPY) has 157,000 options changing hands, 101,000 of which are puts. Following are the SPDR Gold Shares Fund (GLD) contracts with 133,000 as calls slightly outpace puts.

The iShares Russell 2000 Fund (IWM) has 80,000 contracts trading and a put/call ratio of 2 to 1. Just behind are the iShares Silver Fund (SLV) options at 78,000, 46,000 of which are calls. The PowerShares QQQ Trust (QQQ) has 70,000 contracts, with 42,000 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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