Total option volume is strong at 7.3 million so far today, as hedging appears to be the name of the game in the major indexes and ETFs, according to optionMONSTER data systems.
Closing in on 1 million contracts is the SPDR S&P 500 Fund (:SPY) as puts outpace calls by more than 2 to 1. The iShares Russell 2000 Fund (IWM) has volume of 645,000 and a similar put/call ratio.
The S&P 500 Index (:SPX) has 336,000 contracts changing hands, with puts eclipsing calls by 2 to 1. Following is the CBOE Volatility Index (:VIX) at 288,000 options, dominated by 210,000 calls.
The PowerShares QQQ Trust (QQQ) has seen 232,000 options turn over, led by 149,000 puts. The iPath S&P 500 VIX Short-Term Futures Note (VXX) has 116,000 options traded, with 66,000 puts.
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