One of the top trades so far today involved an opening buy of April 60 puts on the iShares Dow Jones US Real Estate Index Fund. The IYR holds 83 different securities (including real estate holding and development and REITs). Since it is market-value weighted, the largest component, Simon Property (SPG) accounts for 6.7 percent of the fund. So, it is dominated by large cap REITs. The opening put buy on the IYR seems to be a defensive play on the view the industry could see further losses between now and April option expiration. Perhaps go back and revisit its January low. chart
Category: All ETFs
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.