The top ten most active stock option contracts that traded Wednesday July 29, 2009 are listed in order from greatest to least below.

  1. Citigroup (C) August 3 Call Option
  2. Citigroup September 4 Call Option
  3. United States Oil Fund (USO) January 55 Call Option
  4. Yahoo (YHOO) August 16 Call Option
  5. Citigroup August 3 Put Option
  6. Citigroup August 1 Call Options
  7. SPDR S&P 500 (SPY) August 81 Put Options
  8. Citigroup September 4 Put Options
  9. Citigroup September 3 Call Option
  10. PowerShares QQQ (QQQQ) January 38 Put Options

Looks like someone is speculating heavy with oil, as the USO had very unusual volume. Read my blog post here for some crude oil option plays.

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