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March 5, 2013  Tue 10:25 AM CT

SPY: SEE CHART GET CHAIN FIND STRATEGIES
Total option volume is strong today as 7.2 million contracts have already changed hands, with most of the action concentrated in the big indexes and ETFs, optionMONSTER's data systems show.

The SPDR S&P 500 Fund (SPY) has 1.5 million options traded, with 924,000 puts. Next up are the S&P 500 Index (SPX) contracts at 552,000, with 301,000 puts.

Following are the iShares Russell 2000 Fund (IWM) options at 461,000, dominated by 395,000 puts. The PowerShares QQQ Trust (QQQ) has 198,000 contracts changing hands, with puts slightly outpacing calls.

The CBOE Volatility Index (VIX) options have turned over 137,000 times, also with puts just outnumbering calls. Not far behind are the iPath S&P 500 VIX Short-Term Futures Note (VXX) options at 119,000, with 63,000 calls. And with the same total is the SPDR Financial Fund (XLF), with 77,000 calls. 
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