As of today the top ten most active stock option contracts were:

1. PowerShares QQQ (NASDAQ:QQQQ) December 40 Put Options
2. S&P 500 SPDR (NYSE:SPY) November 108 Put Options
3. S&P 500 SPDR November 107 Put Options
4. Microsoft (NASDAQ:MSFT) November 30 Call Options
5. S&P 500 SPDR November 105 Put Options
6. S&P 500 SPDR November 109 Call Options
7. S&P 500 SPDR November 109 Put Options
8. S&P 500 SPDR November 104 Put Options
9. iShares Russell 2000 ETF (NYSE:IWM) November 58 Put Options
10. Select Sector Consumer Staples SPDR (NYSE:XLP) December 27 Call Options

With the S&P 500 trading down over 1.2% today, I figured I would see more than just one bullish contract being among the most actives on the SPY. It looks as if the majority of options traded today are bearish on the overall market. I am a bit baffled we witnessed such weakness with two tech giants (Amazon and Microsoft) having very good days. Out of the gate this morning my order to buy back the Amazon 80 put options triggered paying a penny or $1 per option contract. I didn't close my 85 strike put options, because they were part of my ratio put spread, and make for extremely cheap protection now. I also opened a few more Call contracts for the Visa November 60's. I will look to trade out of those on strength in Visa, or perhaps write calls on the Visa 80 or 85, creating a call spread. I sold several 70 strike put options on Research in Motion (RIMM) for $525 per option contract. Into the bell I purchased some 43 strike put options on the Q's, which I will look to trade out of, or turn into a ratio or vertical put spread on weakness.