Marketwide put volume is running well above normal today, with more than 5 million contracts trading by 2pm, on pace to trade 15% more puts than recent averages while call volume is running average. Marketwide Put/Call ratio is near 1.0, a significant spike from recent levels of .70 with call volume leading puts on most days. Large put blocks in GLD, XLB, and XLK are part of the story, but put volume in SPY and QQQQ is also well above normal while call volume is flat.
Category: Market Update
About the Author (Author Profile)
Henry Schwartz is the president of Trade Alert LLC, a provider of real-time options analysis tools to leading Wall Street firms. His systems analyze hundreds of thousands of transactions per second to help professionals identify and interpret market activity in real time, supporting informed trading decisions and intelligent idea generation. He has held institutional trading and management roles with Bank of America, Bear Stearns, Salomon Brothers and the Hull Group, and made markets on the CBOE and AMEX floors in the US, and EUREX and MONEP overseas. Prior to founding Trade Alert, he led the electronic market-making group at Bank of America coincident with the launch of the International Securities Exchange. He received his bachelor’s degree in Economics from the University of California, San Diego and his MBA from NYU’s Stern School of Business.