As of today the top ten option contracts traded were:

  1. Microsoft (MSFT) January 17.50 Call Options
  2. Microsoft November 28 Call Options
  3. Microsoft November 26 Call Options
  4. Microsoft January 20 Call Options
  5. Microsoft November 27 Call Options
  6. Microsoft November 25 Call Options
  7. S&P 500 SPDR (SPY) November 111 Put Options
  8. S&P 500 SPDR November 110 Call Options
  9. S&P 500 Index Options (SPX) December 2011 250 Put Options
  10. S&P 500 SPDR November 111 Call Options

Microsoft trading so many options today is due to the dividend they will be spinning out of their shares tomorrow. Other than that there isn’t anything unusual from today’s activity. The SPX December 2011 put options can be viewed as a rather bullish bet as someone sold them at the Bid price which indicates he/she does not think the S&P 500 will be at or below 250 by December 2011 index option expiration.

I sold some put options on Palm (PALM) and Asiainfo (ASIA) for the November expiration this morning. I also purchased back the 110 strike put options I sold Friday on the S&P 500 SPDR (SPY), and will look to resell them or the 109 strikes puts tomorrow on weakness. Happy trading!