Options Trading News

November 9, 2012  Fri 10:28 AM CT

Total option volume is relatively strong at 6.3 million contracts trading so far today, with the usual names leading the way in the indexes and ETFs, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has 1.2 million contracts traded, led by 757,000 puts. Next are the S&P 500 Index (SPX) options at 454,000 contracts, with 290,000 puts.

More than 275,000 of the PowerShares QQQ Trust (QQQ) options have changed hands, with 167,000 calls. The iShares Russell 2000 Fund (IWM) has seen 175,000 contracts turn over, 114,000 puts.

The SPDR Financial Fund (XLF) options have traded 123,000 times, with a put/call ratio of 4 to 1. The SPDR Gold Shares Fund (GLD) has 82,000 contracts moving, with calls outpacing puts by 2 to 1. The CBOE Volatility Index (VIX) has 78,000 options traded, with 53,000 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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