Options Trading News

March 19, 2013  Tue 10:34 AM CT

Total option volume has reached 5.4 million contracts so far, with the index and ETF options making up the vast majority of that action, optionMONSTER data systems show.

The SPDR S&P 500 Fund (SPY) has 640,000 options traded, with 367,000 puts. The CBOE Volatility Index (VIX) has 288,000 contracts changing hands, 168,000 of which are calls.

The iShares Russell 2000 Fund (IWM) just tops 200,000, with a put/call ratio of almost 2 to 1. Close behind are the S&P 500 Index (SPX) options at 188,000, led by 133,000 puts.

The SPDR Financial Fund (XLF) has seen 118,000 options turn over, with calls outpacing puts by 5 to 1. Following are the iPath S&P 500 VIX Short-Term Futures Note (VXX) options at 112,000, with 74,000 puts.

The PowerShares QQQ Trust (QQQ) has 106,000 contracts changing hands, evenly split between calls and puts. And the SPDR Gold Shares Trust (GLD) has 82,000 options traded, with 48,000 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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