Options Trading News

July 30, 2013  Tue 10:36 AM CT

Total option volume is picking up from yesterday's doldrums but still below average as 4.7 million contracts have changed hands, led by major indexes and ETFs, optionMONSTER data systems show.

The SPDR S&P 500 Fund (SPY) has 439,000 options traded, with 264,000 puts. The iShares Russell 2000 Fund (IWM) has 177,000, with a put/call ratio of 3 to 1. Next up are the S&P 500 Index (SPX) options at 133,000, with calls slightly outpacing puts.

The CBOE Volatility Index (VIX) has 119,000 contracts changing hands, led by 89,000 calls. The PowerShares QQQ Trust (QQQ) has volume of 113,000, with puts slightly outpacing calls. The SPDR Financial Fund (XLF) has 76,000 options turning over, dominated by 67,000 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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