Wednesday’s Options Volume Leaders (C, BP, AAPL, F, BAC, SPY)

The market initiated another sell off this afternoon; the S&P 500 ended down 10.50 points at 1,030. Breaking the 1,040 level, which was a key support level, is a significant sign that this market could be in for another bear move lower, perhaps after a relief rally, but down nonetheless. Technically theory suggests that the market makes a relief run, up to 1,065-1,080, then rolls back over, toward the 960 level. Here were today’s options volume leaders at the closing bell… 1. Citigroup C 338,203 contracts, 77.4% calls, 22.6% puts 2. BP plc BP 288,117 contracts, 51.1% calls, 48.9% puts 3. Apple Inc. AAPL 242,998 contracts, 62.8% calls, 37.2% puts 4. Ford Motor Company F 236,351 contracts, 64.3% calls, 35.7% puts 5. Bank of America Corp. BAC 179,907 contracts, 62.8% calls, 37.2% puts