As of mid day the top ten most active option contracts traded are:
- Citigroup Inc. (NYSE:C) August 4 Call Option
- Citigroup Inc. August 3 Put Option
- Citigroup Inc. September 4 Call Option
- Citigroup Inc. August 5 Call Option
- CBOE Volatility Index (VIX) September 47.5 Call Option
- Citigroup Inc. September 3 Put Options
- Bank of America Corportation (NYSE:BAC) August 16 Put Options
- Citigroup Inc. September 5 Call Options
- Bank of America Corportation August 15 Put Options
- Citigroup Inc. January 2010 5 Put Options
There is nothing too surprising about the option contracts traded today, except for the unusual activity in the CBOE Volatility Index (VIX). It looks like someone is anticipating a sharp decline in the stock market, speculating with the Volatility Index September 47.5 Call options. Here is an option strategy I outlined a few days ago to trade the Volatility Index.
