Options Trading News

March 13, 2013  Wed 10:32 AM CT

Total option volume is light so far today at 4.5 million, with the usual indexes and ETFs making up most of that action, according to optionMONSTER data systems.

The SPDR S&P 500 Fund (SPY) has 490,000 options traded, while the S&P 500 Index (SPX) has seen 162,000 contracts move. Puts are slightly outpacing calls in each name.

The iShares Russell 2000 Fund (IWM) has 138,000 options changing hands, with a put/call ratio of 3 to 1. Following is the PowerShares QQQ Trust (QQQ) with 122,000 contracts, which are evenly split between calls and puts. And not far behind are the CBOE Volatility Index (VIX) options at 117,000, dominated by 100,000 calls.

The iShares Emerging Markets Fund (EEM) has seen 86,000 contracts turn over, with 69,000 puts. The iPath S&P 500 VIX Short-Term futures Note (VXX) options have turned over 82,000 times, with 54,000 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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