Options Trading News

October 26, 2012  Fri 10:20 AM CT

Total option volume just tops 5.1 million contracts, though only a few names dominate today's action in leading indexes and ETFs, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has 855,000 contracts traded, with 493,000 puts. More than 237,000 of the PowerShares QQQ Trust (QQQ) options hav turned over, 132,000 of which are puts. Just behind are the S&P 500 Index (SPX) options at 220,000, with a put/call ratio of roughly 2 to 1.

The SPDR Financial Fund (XLF) has seen just 72,000 contracts change hands, with 45,000 calls. Following closely are the CBOE Volatility Index (VIX) options at 69,000, with calls outpacing puts by 2 to 1.

In quick succession are the iShares Emerging Markets Fund (EEM) options at 59,000, also with calls outpacing puts by 2 to 1. And the iPath S&P 500 VIX Short-Term Futures ETN (VXX) options have turned over 55,000 times, with 31,000 calls.
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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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