Options Trading News

January 31, 2013  Thu 10:16 AM CT

Total option volume is relatively light with 5.5 million contracts so far today, while hedging appears to be leading the way in major indexes and ETFs, according to optionMONSTER's data systems.

More than 682,000 of the SPDR S&P 500 Fund (SPY) options have traded, with a put/call ratio of 2 to 1. The CBOE Volatility Index (VIX) has 153,000 options changing hands, with calls outnumbering puts by 2 to 1.

Next up is the PowerShares QQQ Trust (QQQ) at 123,000 contracts, with 68,000 puts. The iShares Russell 2000 Fund (IWM) also has volume of 123,000, though it has a put/call ratio of 3 to 1.

The S&P 500 Index (SPX) has 115,000 contracts moving, led by 75,000 puts. The iPath S&P 500 VIX Short-Term Futures Note (VXX) has 73,000 options traded, with slightly more puts than 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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