Options Trading News

January 11, 2013  Fri 10:19 AM CT

Total option volume tops 5.8 million contracts so far today as bearish sentiment creeps back into the major indexes and ETFs, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has 920,000 contracts traded, with 558,000 puts. Next up are the CBOE Volatility Index (VIX) options at 444,000, dominated by 392,000 calls. The S&P 500 Index (SPX) has 214,000 contracts changing hands, with a put/call ratio approaching 2 to1.

Just behind are the iShares Russell 2000 Fund (IWM) options at 212,000, led by 176,000 puts. The SPDR Gold Shares Fund (GLD) has 110,000 options traded, with puts just outpacing calls.

The PowerShares QQQ Trust (QQQ) has seen 82,000 contracts turn over, split fairly evenly between calls and puts. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) has 72,000 contracts moving, with 44,000 puts. And the SPDR Financial Fund (XLF) has 68,000 options traded, with 47,000 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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