MIDDAY MARKET RECAP

>>Market Color .SPX - S&P500 index option volume at midday totals 1548043 contracts as the index trades near $4144.21 (26.84). Front term atm implied vols are near 18.0% and the CBOE VIX is currently near 20.36 (-0.91).

>>Market Color @ENER - Energy sector option volume is moderate today, with calls leading puts 7 to 4 and 634991 contracts changing hands. Most actives include Enphase Energy(ENPH), Exxon Mobil(XOM), First Solar(FSLR). The sector ETF, XLE is down -0.235 to 84.395 with 30 day implied volatility lower by -0.6%, near 25.6% #sector

>>Market Color ALB - Bullish option flow detected in Albemarle (128.50 -5.94) with 9,818 calls trading (3x expected) and implied vol increasing over 1 point to 55.95%. . The Put/Call Ratio is 0.67. Earnings are expected on 11/01. [ALB 128.50 -5.94 Ref, IV=55.9% +1.4] #Bullish

>>Market Color @FIN - Financials sector option volume is moderate today, with calls leading puts 9 to 4 and 1259023 contracts changing hands. Most actives include SoFi Technologies(SOFI), Marathon Patent Group(MARA), Bank of America(BAC). The sector ETF, XLF is up 0.345 to 31.795 with 30 day implied volatility lower by -1.1%, near 20.1%  #sector

>>Market Color @IT - Technology sector option volume is relatively light today, with calls leading puts 9 to 7 and 3129912 contracts trading marketwide. Most actives include NVIDIA(NVDA), Apple(AAPL), Meta Platforms (Facebook)(META). The sector ETF, XLK is up 0.725 to 161.845 with 30 day implied volatility lower by -0.6%, near 23.7%  #sector

>>Market Color @CYC - Consumer Cyclicals sector option volume is relatively heavy today, with calls leading puts 3 to 2 and 3175580 contracts changing hands. Most actives include Tesla(TSLA), Amazon(AMZN), Ford(F). The sector ETF, XLY is up 0.705 to 150.295 with 30 day implied volatility lower by -1.0%, near 24.7% #sector

>>Market Color @HLTH - Health Care sector option volume is relatively light today, with calls leading puts 8 to 5 and 469032 contracts changing hands. Most actives include Pfizer(PFE), AbbVie(ABBV), Bristol Myers Squibb(BMY). The sector ETF, XLV is up 0.165 to 123.305 with 30 day implied volatility lower by -0.7%, near 16.4%  #sector

>>Market Color @MAT - Basic Materials sector option volume is relatively heavy today, with calls leading puts 7 to 2 and 323126 contracts trading marketwide. Most actives include US Steel(X), Cleveland-Cliffs(CLF), Vale(VALE). The sector ETF, XLB is up 0.515 to 75.465 with 30 day implied volatility lower by -0.8%, near 20.3%  #sector