Options Trading News

November 28, 2012  Wed 10:24 AM CT

Total option volume just tops 5.1 million contracts so far today with mixed action in the indexes and ETFs, according to optionMONSTER's data systems.

The SPDR S&P 500 Fund (SPY) has 916,000 options traded, with 545,000 puts. Next up are the PowerShares QQQ Trust (QQQ) options at 208,000, with 130,000 puts. The iShares Russell 2000 Fund (IWM) has volume of 161,000, with puts outpacing calls by 3 to 1.
The SPDR Gold Shares Fund (GLD) has 143,000 contracts changing hands, led by 94,000 calls. Not far behind are the S&P 500 Index (SPX) options at 130,000, with 76,000 puts.

The CBOE Volatility Index (VIX) has 115,000 options traded, with 65,000 calls. And the iPath S&P 500 VIX Short-Term Futures ETN (VXX) options have turned over 91,000 times, 52,000 of which are 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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