Total option volume is running above average at 6.6 million contracts so far today, with bearish sentiment leading the top indexes and ETFs, according to optionMONSTER data systems.
Just over 906,000 SPDR S&P 500 Fund (SPY) options have traded, with puts outpacing calls by 2 to 1. Next up is the iShares Russell 2000 Fund (IWM) at 365,000, led by 288,000 puts. Close behind is the PowerShares QQQ Trust (QQQ) at 358,000, also with a put/call ratio of 2 to 1.
The S&P 500 Index (SPX) has 319,000 options traded, with a put/call ratio of almost 3 to 1 and the weekly options outpacing the regular monthly expirations, which is very unusual. The iShares Emerging Markets Fund (EEM) has 274,000 contracts changing hands, with 190,000 puts.
The CBOE Volatility Index (VIX) has 131,000 options traded, with calls outnumbering puts by 4 to 1. And following is the iPath S&P 500 VIX Short-Term Futures Note (VXX) at 120,000, with slightly more calls than puts.
— Option Monster