Options Trading News

May 2, 2013  Thu 10:13 AM CT

Total option volume is light at just 4.6 million contracts so far today, with mixed action in the major indexes and ETFs, according to optionMONSTER data systems.

The SPDR S&P 500 Fund (SPY) has just 541,000 options traded, led by 306,000 puts. Next up are the iShares Russell 2000 Fund (IWM) contracts at 260,000, with a put/call ratio of 4 to 1.
The CBOE Volatility Index (VIX) has 222,000 options turning over, with calls outpacing puts by more than 3 to 1. The PowerShares QQQ Trust (QQQ) has volume of 126,000, with 77,000 puts. Following are the S&P 500 Index (SPX) options at 118,000, with a put/call ratio of 3 to 1.

The iPath S&P 500 VIX Short-Term Futures Note (VXX) has 70,000 contracts changing hands, with 41,000 puts. And the SPDR Gold Shares Fund (GLD) has 63,000 options traded, evenly split between calls and 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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