Options Trading News

January 17, 2013  Thu 10:19 AM CT

Total option volume tops 6 million contracts so far as sentiment is quite bullish in the largest indexes and ETFs, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has seen 642,000 contracts trade, with 335,000 calls. Next up are the S&P 500 Index (SPX) options at 294,000, evenly split between calls and puts.

The CBOE Volatility Index (VIX) has 142,000 contracts changing hands as calls outpace puts by almost 5 to 1. Just behind are the SPDR Gold Shares Fund (GLD) at 138,000 options, with 89,000 calls.

Just over 130,000 options are trading in the iShares Russell 2000 Fund (IWM), with 96,000 puts. The PowerShares QQQ Trust (QQQ) has 111,000 contracts turning over, 65,000 of which are puts. And the iPath S&P 500 VIX Short-Term Futures ETN (VXX) just breaks 100,000, with 62,000 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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