CNBC Stock Blog

The Options Trade Today on QQQQ ETF


This blog post was written by OptionMonster's Chris McKhann.

Options traders are making a short-term bearish play on the Nasdaq 100-indexed ETF.

The QQQQ exchange traded fund (aka PowerShares QQQ Trust, Series 1) closed Thursday down 2.5 percent to $29.58, finishing right in the middle of its recent range.

tracking systems show buying of the February 24 puts, where almost 57,000 contracts traded, more than the outstanding open interest of 35,591. Most of them traded in large blocks in a 10-minute period in the afternoon for $0.10.

The QQQQ options were second on the overall volume list for the day, with 641,000 contracts traded. Most of this action was in February, with 484,000 contracts changing hands against a 20-day average of 197,000.

More Exchange-Indexed ETFs:

Ultra S&P500 ProShares

ProShares UltraShort S&P500

ProShares Ultra QQQ

iShares S&P 500 Index