“Unusual options volume in the S&P 500 SPDR Exchange Traded Fund is looking for further declines. The SPY options are the most widely traded, averaging more than 1.3 million contracts daily over the last month. So we do not find unusual trading volume often, but when it comes, it is often in the Quarterly series that only a few of the ETFs include. These Quarterly expirations are mainly designed for institutional managers who want an expiration that will carry them through the end of the quarter,” Option Monster Reports.

“We see such volume in the June Quarterly 112 puts this morning. A trader has bought 30,000 of those puts, all for $1.71 against previous open interest of 2,116 contracts. This trade will give this put strike the largest open interest in the June Quarterlies by a factor of 3. The put buying is likely a hedge on a long shares. But the strike means that this trader is very concerned about a pullback greater than 5 percent before the end of June. The implied volatility of those puts is 22 percent, with the 30 day historical volatility still down at 12 percent. That means that this trader was willing to pay up for that protection,” Option Monster Reports.

We have put together some details on the SPDR S&P 500 ETF (NYSE: SPY) including a snapshot of the options activity mentioned above.  The SPDR S&P 500 ETF is one of the most widely held ETFs providing a clear snapshot of the market with top major holdings in Exxon Mobil Corp (NYSE:XOM), Apple Inc (NASDAQ:AAPL), Microsoft Corp (NASDAQ:MSFT), and General Electric Co (NYSE:GE).

The SPDR® S&P 500® ETF is a fund that, before expenses, generally corresponds to the price and yield performance of the S&P 500 Index (Ticker: SPTR). Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.

Fund Top Holdings

As of04/27/2010
Name	Weight	Shares Held
Exxon Mobil Corp (NYSE:XOM)	3.01%	31,705,536
Apple Inc (NASDAQ:AAPL)	2.22%	6,089,506
Microsoft Corp (NASDAQ:MSFT)	2.20%	51,241,052
General Electric Co (NYSE:GE)	1.87%	71,652,710
Procter & Gamble Co (NYSE:PG)	1.71%	19,505,576
Johnson & Johnson (NYSE:JNJ)	1.65%	18,480,490
Bank Of America Corporation (NYSE:BAC)	1.64%	67,369,500
Jpmorgan Chase & Co (NYSE:JPM)	1.58%	26,680,536
International Business Mach (NYSE:IBM)	1.56%	8,723,398
Wells Fargo & Co New (NYSE:WFC)	1.54%	34,790,936

Strike Symbol Last Chg Bid Ask Vol Open Int 20.00 SXO100619P00020000 0.01 0.00 N/A 0.03 0 102 30.00 SIY100619P00030000 0.05 0.00 N/A 0.03 0 9 35.00 SIY100619P00035000 0.05 0.00 N/A 0.01 0 29 40.00 SIY100619P00040000 0.01 0.00 N/A 0.01 0 3,740 45.00 SIY100619P00045000 0.04 0.00 N/A 0.03 0 533 50.00 SWV100619P00050000 0.03 0.00 N/A 0.03 0 1,655 51.00 SWV100619P00051000 0.02 0.00 N/A 0.03 0 90 52.00 SWV100619P00052000 0.12 0.00 N/A 0.03 0 8 53.00 SWV100619P00053000 0.17 0.00 N/A 0.03 0 288 54.00 SWV100619P00054000 0.10 0.00 N/A 0.03 0 100 55.00 SWV100619P00055000 0.02 0.00 N/A 0.03 0 28,510 56.00 SWV100619P00056000 0.14 0.00 N/A 0.03 0 113 57.00 SWV100619P00057000 0.06 0.00 N/A 0.03 0 758 58.00 SWV100619P00058000 0.06 0.00 N/A 0.03 0 609 59.00 SWV100619P00059000 0.25 0.00 N/A 0.03 0 409 60.00 SWV100619P00060000 0.05 0.00 N/A 0.01 0 6,002 61.00 SWV100619P00061000 0.12 0.00 N/A 0.03 0 637 62.00 SWV100619P00062000 0.10 0.00 N/A 0.03 0 908 63.00 SWV100619P00063000 0.04 0.00 N/A 0.02 0 659 64.00 SWV100619P00064000 0.03 0.00 N/A 0.03 0 456 65.00 SWV100619P00065000 0.02 0.00 N/A 0.03 0 2,498 65.00 RQY100630P00065000 0.22 0.00 N/A 0.05 0 82 66.00 SWV100619P00066000 0.02 0.00 N/A 0.04 0 278 66.00 RQY100630P00066000 0.16 0.00 N/A 0.05 0 295 67.00 SWV100619P00067000 0.02 0.00 N/A 0.03 0 1,501 67.00 RQY100630P00067000 0.24 0.00 N/A 0.05 0 754 68.00 SWV100619P00068000 0.02 0.00 N/A 0.04 250 901 68.00 RQY100630P00068000 0.22 0.00 N/A 0.05 0 1,703 69.00 SWV100619P00069000 0.02 0.00 N/A 0.04 0 441 69.00 RQY100630P00069000 0.19 0.00 N/A 0.06 0 10 70.00 SZC100619P00070000 0.02 0.00 0.02 0.04 88 7,391 70.00 RQY100630P00070000 0.16 0.00 0.02 0.06 0 3,290 71.00 SZC100619P00071000 0.02 0.00 0.01 0.04 0 1,276 71.00 RQY100630P00071000 0.34 0.00 0.01 0.06 0 1,998 72.00 SZC100619P00072000 0.01 0.00 0.01 0.05 0 9,717 72.00 RQY100630P00072000 0.08 0.00 0.02 0.06 0 668 73.00 SZC100619P00073000 0.12 0.00 0.02 0.05 0 1,419 73.00 RQY100630P00073000 0.09 0.00 0.02 0.07 0 659 74.00 SZC100619P00074000 0.03 0.00 0.02 0.05 0 2,040 74.00 ROQ100630P00074000 0.52 0.00 0.03 0.07 0 1,077 75.00 SZC100619P00075000 0.03 0.00 0.02 0.06 0 23,400 75.00 ROQ100630P00075000 0.12 0.00 0.04 0.08 0 1,217 76.00 SZC100619P00076000 0.04 0.00 0.03 0.06 2 842 76.00 ROQ100630P00076000 0.06 0.00 0.03 0.08 0 1,179 77.00 SZC100619P00077000 0.03 0.00 0.03 0.07 0 12,852 77.00 ROQ100630P00077000 0.06 0.00 0.04 0.09 0 3,168 78.00 SZC100619P00078000 0.03 0.00 0.04 0.08 0 1,277 78.00 ROQ100630P00078000 0.06 0.00 0.04 0.10 0 1,090 79.00 SZC100619P00079000 0.03 0.00 0.04 0.08 0 811 79.00 ROQ100630P00079000 0.08 0.00 0.06 0.10 0 1,283 80.00 SZC100619P00080000 0.08 0.04 0.05 0.09 2 41,668 80.00 ROQ100630P00080000 0.08 0.00 0.06 0.12 0 2,499 81.00 SZC100619P00081000 0.05 0.00 0.06 0.09 0 5,609 81.00 ROQ100630P00081000 0.08 0.00 0.07 0.12 0 1,682 82.00 SZC100619P00082000 0.07 0.00 0.07 0.10 0 1,827 82.00 ROQ100630P00082000 0.08 0.00 0.09 0.13 0 826 83.00 SZC100619P00083000 0.06 0.00 0.07 0.11 2 11,539 83.00 ROQ100630P00083000 0.09 0.00 0.10 0.15 0 301 84.00 SZC100619P00084000 0.12 0.05 0.08 0.12 157 2,438 84.00 ROQ100630P00084000 0.82 0.00 0.11 0.16 0 348 85.00 SZC100619P00085000 0.10 0.02 0.09 0.12 200 86,793 85.00 ROQ100630P00085000 0.12 0.00 0.12 0.17 0 1,554 86.00 SZC100619P00086000 0.06 0.00 0.10 0.13 0 11,066 86.00 ROQ100630P00086000 0.12 0.00 0.14 0.19 0 190 87.00 SZC100619P00087000 0.15 0.08 0.11 0.14 11 15,824 87.00 ROQ100630P00087000 0.14 0.01 0.15 0.20 5 548 88.00 SZC100619P00088000 0.16 0.10 0.13 0.15 2 34,064 88.00 ROQ100630P00088000 0.15 0.00 0.17 0.22 0 725 89.00 SZC100619P00089000 0.18 0.11 0.15 0.17 55 5,933 89.00 ROQ100630P00089000 0.17 0.00 0.19 0.24 0 1,016 90.00 SWG100619P00090000 0.20 0.02 0.16 0.17 306 179,923 90.00 ROQ100630P00090000 0.14 0.00 0.20 0.25 0 2,839 91.00 SWG100619P00091000 0.14 0.00 0.18 0.20 20 5,891 91.00 ROQ100630P00091000 0.19 0.00 0.23 0.28 0 1,141 92.00 SWG100619P00092000 0.17 0.00 0.20 0.22 375 14,688 92.00 ROQ100630P00092000 0.26 0.02 0.25 0.30 22 712 93.00 SWG100619P00093000 0.25 0.12 0.22 0.24 45 16,169 93.00 ROQ100630P00093000 0.24 0.00 0.27 0.32 0 1,695 94.00 SWG100619P00094000 0.22 0.00 0.23 0.26 30 29,908 94.00 ROQ100630P00094000 0.33 0.06 0.30 0.35 750 790 95.00 SWG100619P00095000 0.26 0.07 0.25 0.27 139 127,327 95.00 ROQ100630P00095000 0.22 0.00 0.33 0.38 4 1,816 96.00 SWG100619P00096000 0.24 0.00 0.28 0.30 1 13,457 96.00 ROQ100630P00096000 0.30 0.00 0.35 0.40 0 765 97.00 SWG100619P00097000 0.35 0.06 0.30 0.33 31 32,692 97.00 ROQ100630P00097000 0.33 0.00 0.39 0.43 0 1,033 98.00 SWG100619P00098000 0.36 0.09 0.34 0.35 35 15,203 98.00 ROQ100630P00098000 0.45 0.09 0.42 0.47 8 2,624 99.00 SWG100619P00099000 0.39 0.04 0.37 0.39 2 36,391 99.00 ROQ100630P00099000 0.30 0.00 0.46 0.51 0 1,199 100.00 SWG100619P00100000 0.42 0.04 0.40 0.42 38 116,813 100.00 RDQ100630P00100000 0.60 0.13 0.51 0.56 15 2,389 101.00 SWG100619P00101000 0.44 0.01 0.44 0.46 1 14,507 101.00 RDQ100630P00101000 0.62 0.19 0.57 0.62 10 1,104 102.00 SWG100619P00102000 0.54 0.03 0.48 0.50 299 26,533 102.00 RDQ100630P00102000 0.63 0.19 0.62 0.67 50 2,104 103.00 SWG100619P00103000 0.57 0.01 0.53 0.56 15 22,012 103.00 RDQ100630P00103000 0.49 0.00 0.68 0.72 0 5,199 104.00 SWG100619P00104000 0.65 0.03 0.59 0.61 1,318 82,344 104.00 RDQ100630P00104000 0.52 0.00 0.75 0.79 0 3,143 105.00 SWG100619P00105000 0.67 0.07 0.65 0.67 594 152,545 105.00 RDQ100630P00105000 0.89 0.04 0.83 0.87 777 9,766 106.00 SWG100619P00106000 0.74 0.06 0.72 0.74 2,475 23,877 106.00 RDQ100630P00106000 1.05 0.16 0.92 0.96 129 9,521 107.00 SWG100619P00107000 0.88 0.07 0.80 0.83 634 60,589 107.00 RDQ100630P00107000 1.05 0.13 1.01 1.06 187 3,097 108.00 SWG100619P00108000 0.90 0.12 0.88 0.90 2,765 86,646 108.00 RDQ100630P00108000 1.20 0.00 1.11 1.15 1 1,702 109.00 SWG100619P00109000 0.98 0.17 0.99 1.01 685 44,856 109.00 RDQ100630P00109000 1.28 0.05 1.23 1.27 58 6,641 110.00 SPY100619P00110000 1.10 0.17 1.10 1.12 5,008 135,301 110.00 RDQ100630P00110000 1.42 0.08 1.38 1.41 10 11,863 111.00 SPY100619P00111000 1.26 0.17 1.25 1.26 1,784 67,477 111.00 RDQ100630P00111000 1.63 0.75 1.53 1.57 22,400 5,247 112.00 SPY100619P00112000 1.40 0.23 1.39 1.41 3,681 197,298 112.00 RDQ100630P00112000 1.71 0.66 1.71 1.75 30,000 2,116 113.00 SPY100619P00113000 1.58 0.26 1.57 1.58 7,753 80,437 113.00 RDQ100630P00113000 1.99 0.13 1.90 1.94 230 4,714 114.00 SPY100619P00114000 1.79 0.27 1.77 1.79 12,030 78,577 114.00 RDQ100630P00114000 2.16 0.24 2.12 2.17 55 1,664 115.00 SPY100619P00115000 2.01 0.34 2.01 2.02 12,709 139,835 115.00 RDQ100630P00115000 2.49 0.10 2.37 2.42 20,516 6,465 116.00 SPY100619P00116000 2.28 0.36 2.27 2.29 15,404 90,879 116.00 RDQ100630P00116000 2.70 0.00 2.66 2.70 5,047 11,490 117.00 SPY100619P00117000 2.59 0.43 2.58 2.60 21,483 94,661 117.00 RDQ100630P00117000 3.02 0.21 2.97 3.03 169 2,677 118.00 SPY100619P00118000 2.95 0.41 2.93 2.95 16,551 60,375 118.00 RDQ100630P00118000 3.37 0.43 3.34 3.38 184 967 119.00 SPY100619P00119000 3.35 0.51 3.33 3.34 13,313 79,281 119.00 RDQ100630P00119000 3.79 0.45 3.74 3.80 413 2,115 120.00 SPY100619P00120000 3.81 0.51 3.80 3.81 6,453 64,122 120.00 RDQ100630P00120000 4.51 0.28 4.18 4.24 84 7,677 121.00 SPY100619P00121000 4.34 0.50 4.31 4.32 7,747 29,697 121.00 RDQ100630P00121000 4.86 0.52 4.69 4.76 28 245 122.00 SPY100619P00122000 4.92 0.00 4.89 4.90 5,341 19,794 122.00 RDQ100630P00122000 5.50 0.12 5.25 5.32 8 1,271 123.00 SPY100619P00123000 5.55 0.65 5.53 5.55 5,070 11,787 123.00 RDQ100630P00123000 6.15 0.07 5.86 6.01 20 32 124.00 SPY100619P00124000 6.27 0.49 6.23 6.24 2,332 10,771 124.00 RDQ100630P00124000 6.20 0.00 6.53 6.68 1 382 125.00 SPY100619P00125000 7.05 0.36 7.00 7.12 514 25,684 125.00 RDQ100630P00125000 7.37 1.99 7.25 7.48 21 109 126.00 SPY100619P00126000 8.06 0.14 7.80 7.93 51 2,575 126.00 RQQ100630P00126000 6.44 0.00 7.99 8.25 0 343 127.00 SPY100619P00127000 8.62 1.30 8.66 8.70 842 2,335 127.00 RQQ100630P00127000 7.89 0.00 8.80 9.06 10 93 128.00 SPY100619P00128000 9.52 0.56 9.54 9.63 203 3,491 128.00 RQQ100630P00128000 8.98 0.00 9.65 9.91 0 27 129.00 SPY100619P00129000 11.20 2.34 10.45 10.59 5,016 2,768 129.00 RQQ100630P00129000 10.11 0.00 10.52 10.82 0 136 130.00 SFB100619P00130000 11.45 0.75 11.29 11.59 2,610 20,726 130.00 RQQ100630P00130000 11.22 0.00 11.43 11.72 0 54 131.00 SFB100619P00131000 12.70 1.70 12.25 12.55 10 1,365 131.00 RQQ100630P00131000 10.70 0.00 12.35 12.67 10 50 132.00 SFB100619P00132000 10.80 0.00 13.22 13.54 0 789 133.00 SFB100619P00133000 13.33 0.00 14.20 14.54 0 1,053 134.00 SFB100619P00134000 12.82 0.00 15.19 15.50 0 559 135.00 SFB100619P00135000 14.07 0.00 16.18 16.49 0 268 136.00 SFB100619P00136000 15.54 0.00 17.25 17.49 20 221 137.00 SFB100619P00137000 16.05 0.00 18.16 18.50 0 412 138.00 SFB100619P00138000 17.22 0.00 19.16 19.48 0 532 139.00 SFB100619P00139000 18.04 0.00 20.16 20.49 0 334 140.00 SFB100619P00140000 19.96 0.00 21.16 21.47 0 344 141.00 SFB100619P00141000 20.95 0.00 22.16 22.48 0 110 142.00 SFB100619P00142000 23.40 0.00 23.17 23.47 34 143 143.00 SFB100619P00143000 26.29 0.00 24.16 24.47 0 10 144.00 SFB100619P00144000 27.29 0.00 25.16 25.47 0 48 145.00 SFB100619P00145000 26.59 0.00 26.15 26.47 0 101 146.00 SFB100619P00146000 29.77 0.00 27.15 27.49 0 115 147.00 SFB100619P00147000 30.29 0.00 28.15 28.49 0 189 148.00 SFB100619P00148000 28.76 0.00 29.15 29.48 0 20 149.00 SFB100619P00149000 29.76 0.00 30.15 30.49 0 46 150.00 SYH100619P00150000 33.28 0.00 31.15 31.48 0 11 155.00 SYH100619P00155000 38.28 0.00 36.15 36.48 0 82 160.00 SYH100619P00160000 54.39 0.00 41.15 41.46 0 215 165.00 SYH100619P00165000 48.27 0.00 46.15 46.46 0 231 170.00 SYH100619P00170000 53.75 0.00 51.14 51.46 0 944

NYSE:SPY