Stocks quoted in this article:
With the Nasdaq-100 Trust (QQQ - 90-1/8) trading fractionally lower this afternoon, the August 90 put is currently one of the most-active puts on the AMEX. The August 90 put has traded over 11,000 contracts, mostly this morning as the QQQ was finding support at 90. The current open interest on this option is 10,305 contracts. Although QQQ closed at 90-7/16 yesterday, it has had trouble surpassing the 90 level. This area of former support from June 2 to July 28 is now serving as resistance, capping advance attempts over the last week.