Options Trading News

April 30, 2013  Tue 10:27 AM CT

Total option volume is again just above 5 million contracts approaching midday, with the typical indexes and ETFs dominating today's trading, according to optionMONSTER data systems.

The SPDR S&P 500 Fund (SPY) leads the way as usual with 721,000 contracts traded, 450,000 of which are puts. Next up are the PowerShares QQQ Trust (QQQ) options at 301,000, though in that name calls outpace puts by 2 to 1. Following are the CBOE Volatility Index (VIX) options at 275,000, dominated by 213,000 calls.

The iPath S&P 500 VIX Short-Term Futures Note (VXX) has 182,000 options traded and a put/call ratio of 2 to 1. The S&P 500 Index (SPX) have turned over 124,000 times, with puts slightly outpacing calls. The iShares Russell 2000 Fund (IWM) has 107,000 options moving, with puts outnumbering calls by 4 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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