Your intraday options trading update.

High Options Volume by Strike

The Financial Select SPDR (NYSE: XLF) leads strike volume with its XLF Jul 16 Call trading 154,380 contracts, flat at .08.

The SPDR S&P 500 (NYSE: SPY) is all over the place with a butterfly spreads garnering attention. Option Alert reports the SPY Jul 112 – 120 – 128 Put fly traded at $1.22, 40,000 times. And a second SPY spread is a Jul 113 – 121 – 129 Put fly trading 30,000 contracts.

Sprint (NYSE: S) sees its S Jul 5 Put trade 51,000 options, up .01 to .12.

The iShares Russell 2000 (NYSE: IWM) trades 27,384 options in the IWM Jun 78 Put, down 0.23 to 0.50.

Find more option analysis and trading ideas at Options Trading Strategies.

Stocks/Underlying – Big Daily Change in Option Volume

Navistar Intl (NYSE: NAV) trades 6600 contracts with the stock dropping 3.24 to 59.64. NAV’s fiscal second quarter results disappointed analysts.

Armstrong World Industries (NYSE: AWI) trades 1785 options, a rise of more than 400% from a typical day.

United Therapeutics (NASDAQ: UTHR) back on the list with 22,000 options trading. UTHR sold off yesterday on disappointing results on drug test but is up slightly today to 59.05.

Stocks/Underlying – High Option Volume

The SPDR S&P 500 (NYSE: SPY) tops the list with about 927,000 options trading, partly due to multiple butterfly spreads apparently. SPY was up .67 to 129.72. The Standard & Poor’s Index Options (CBOE: SPX) is up 6.68 to 1292.85 with 327,000 contracts trading.

The iShares Russell 2000 (NYSE: IWM) trades 202,000 options and rallies somewhat up .63 to 80.18. The Russell 2000 Index (CBOE: RUT) jumps 6.30 to 801.62 on 137,000 options.

The Financial Select SPDR (NYSE: XLF) rises .10 to 15.03 and 184,000 options trade.

The CBOE Volatility Index (CBOE: VIX) trades about 116,000 contracts and drops .79 to 17.70.

Top equity is Apple (NASDAQ: AAPL) as it falls 4.23 to 333.81 and 105,000 options trade.

Burney Simpson is the managing editor of InvestorPlace options pages.