Options Trading News

March 14, 2013  Thu 10:29 AM CT

Total option volume is up to 5.8 million so far today, with sentiment bullish in major indexes and ETFs, optionMONSTER data systems show.

The SPDR S&P 500 Fund (SPY) has 782,000 options traded as puts slightly outpace calls. Next up are the S&P 500 Index (SPX) contracts at 270,000, with 144,000 calls outpacing puts in marked contrast to a put/call ratio of 1.6 in the last month. The iShares Russell 2000 Fund (IWM) has seen 148,000 contracts turn over, evenly split between calls and puts.

Close behind are the CBOE Volatility Index (VIX) options at 138,000. It has 87,000 puts, reversing its usual ratio of calls outpacing puts by 2 to 1. Next up are the iPath S&P 500 VIX Short-Term Futures Note (VXX) options at 127,000, with about equal numbers of calls and puts.

The PowerShares QQQ Trust (QQQ) just tops 100,000 contracts, led by 72,000 calls. The SPDR Financial Fund (XLF) has 69,000 options traded, with calls outpacing puts by almost 6 to 1.

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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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