Options Trading News

January 9, 2013  Wed 10:22 AM CT

Total option volume is 5.3 million contracts so far today as bullish sentiment returns to the major indexes and ETFs, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has 519,000 contracts traded, with 337,000 puts. Next up are the S&P 500 Index (SPX) options with 251,000, evenly split between calls and puts. The CBOE Volatility Index (VIX) options are just behind at 230,000 contracts, 134,000 of which are puts.

The iShares Russell 2000 Fund (IWM) has 95,000 contracts changing hands, with a put/call ratio approaching 2 to 1. The SPDR Gold Shares (GLD) options have turned over 77,000 times, with 44,000 puts.

Just behind are the PowerShares QQQ Trust (QQQ) options with volume of 76,000, including 44,000 puts. And the SPDR Financial Fund (XLF) has seen 71,000 options move, with 40,000 puts.
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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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