Options Trading News

November 14, 2012  Wed 10:33 AM CT

Total option volume is strong at more than 6.6 million contracts as hedging appears to be at the heart of the action in the indexes and ETFs, according to optionMONSTER's data systems.

The SPDR S&P 500 Fund (SPY) just tops 1 million contracts, led by 635,000 puts. Next up are the S&P 500 Index (SPX) options with 428,000 and a put/call ratio of more than 2 to 1.

The PowerShares QQQ Trust (QQQ) are next with 234,000 options, though in this name calls outpace slightly. The iShares Russell 2000 Fund (IWM) have 136,000 contracts changing hands, with 97,000 puts. The CBOE Volatility Index (VIX) has 118,000 optoins, dominated by 82,000 calls.

The iShares China 25 Index Fund (FXI) options have turned over 81,000 times, with puts slightly outnumbering calls. The U.S. Oil Fund (USO) has 65,000 contracts moving, with 40,000 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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