Options Trading News

July 18, 2013  Thu 10:21 AM CT

Total option volume tops 6.5 million contracts so far today, with relatively bullish sentiment coming through in major indexes and ETFs, according to optionMONSTER data systems.

The SPDR S&P 500 Fund (SPY) has 808,000 contracts traded as puts slightly outpace calls. Next up are the S&P 500 Index (SPX) options with 334,000, also with slightly more puts that calls. The CBOE Volatility Index (VIX), which is derived from those SPX options, has 238,000 of its own contracts traded,  with 126,000 puts.

The iShares Russell 2000 Fund (IWM) has 178,000 options changing hands, though it does have a put/call ratio of 2 to 1. Not far behind are the iPath S&P 500 VIX Short-Term Futures Note (VXX) with 161,000, led by 96,000 puts.

The iShares Emerging Markets Fund (EEM) has 155,000 options turning over, dominated by 128,000 puts. The PowerShares QQQ Trust (QQQ) has 90,000 contracts moving, with 56,000 puts.
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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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