Options Trading News

February 6, 2013  Wed 10:34 AM CT

Total option volume is relatively light at 5.1 million so far today, with the action mostly led by the typical index and ETF names, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has 710,000 contracts changing hands, with puts making up 503,000 of that action. The iShares EAFE Index Fund (EFA), a former regular name in the top-volume list, has 264,000 options traded as calls and puts are split evenly. (See related story)

The S&P 500 Index (SPX) has seen 190,000 contracts trade, with 112,000 puts. Following are the CBOE Volatility Index (VIX) options at 142,000, calls just outpacing puts.

The iShares Russell 2000 Fund (IWM) has 102,000 options traded, with a put/call ratio of 2 to 1. Just behind are 101,000 options in the PowerShares QQQ Trust (QQQ), with 55,000 calls.

The SPDR Financial Fund (XLF) has 80,000 options moving, dominated by 77,000 puts. Just behind are the SPDR Gold Shares Fund (GLD) contracts at 74,000, with 38,000 calls.
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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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