Options Trading News

December 24, 2013  Tue 10:05 AM CT

Total option volume is about 3.6 million contracts so far today, predictably light on Christmas Eve, with the typical indexes and ETFs leading the way, optionMONSTER data systems show.

The SPDR S&P 500 Fund (SPY) tops the list as usual at 392,000 contracts, with 206,000 puts. Next up is the CBOE Volatility Index (VIX) at 268,000, led by 229,000 calls. Following are the iShares Russell 2000 Fund (IWM) options at 158,000, with a put/call ratio of about 2 to 1.

The S&P 500 Index (SPX) has 120,000 contracts changing hands, also with a put/call ratio of 2 to 1. The iPath S&P 500 VIX Short-Term Futures Note (VXX) has 87,000 options traded, with 55,000 puts. The PowerShares QQQ Trust (QQQ) has volume of 49,000, 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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