Options Trading News

September 20, 2013  Fri 10:31 AM CT

Total option volume is strong again today at 7.8 million contracts so far, with mixed sentiment in the big indexes and ETFs, optionMONSTER data systems show.

Just shy of 1 million SPDR S&P 500 Fund (SPY) options have changed hands, with puts outpacing alls by almost 2 to 1. Next up is the SPDR Financial Fund (XLF) options with 815,000--a huge day for that fund--dominated by 811,000 puts.

The CBOE Volatility Index (VIX) has 380,000 contracts changing hands, with 216,000 calls. The S&P 500 Index (SPX) has 252,000 options turning over, with 153,000 puts.

The iShares Russell 2000 Fund (IWM) has seen 196,000 options trade, with a rare occurrence of 110,000 calls outpacing puts. The iPath S&P 500 VIX Short-Term Futures Note (VXX) has 150,000 options traded, with 84,000 puts.

The iShares Emerging Markets Fund (EEM) has 144,000 contracts moving, with 78,000 puts. Just behind are the PowerShares QQQ Trust (QQQ) options at 140,000 as puts slightly outpace calls. And the SPDR Gold Shares Fund (GLD) has 139,000, with 78,000 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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