Some of the most liquid optionable ETFs (including top three by options volume) track US broad market indices: S&P500, Nasdaq 100, Dow Jones Industrial Average, and Russell 2000. Additionally, there are inverse (short) and leveraged ETFs on the same indices which also offer decent options volume and reasonable bid-ask spreads.
Broad Market Index ETF Options
rank symbol avg_daily_volume etf_name 1. SPY = 2,806,621 = SPDR S&P 500 ETF Trust 2. QQQ = 926,038 = Invesco QQQ Trust Series 1 3. IWM = 262,005 = iShares Russell 2000 ETF 25. DIA = 15,278 = SPDR Dow Jones Industrial Average ETF
Leveraged Index ETF Options
rank symbol avg_daily_volume etf_name 4. TQQQ = 92,132 = ProShares UltraPro QQQ 3x Shares 33. TNA = 7,726 = Direxion Daily Small Cap Bull 3X Shares 55. SPXL = 2,251 = Direxion Daily S&P 500 Bull 3X Shares 58. UPRO = 1,959 = ProShares UltraPro S&P 500 ETF 3x Shares
Inverse (Short) Index ETF Options
rank symbol avg_daily_volume etf_name 5. SQQQ = 63,175 = ProShares UltraPro Short QQQ -3x Shares 34. SPXS = 7,371 = Direxion Daily S&P 500 Bear -3X Shares 36. SPXU = 6,149 = ProShares UltraPro Short S&P 500 49. TZA = 3,150 = Direxion Daily Small Cap Bear 3X Shares