State Street (STT, news, chart, volatility) is taking a hit and options order flow is bearish. There is no company specific news on the regional bank, but it is a larger holder of Morgan Stanley (MS) and AIG (AIG) shares. STT is down $8.75 or $13.5 percent to $56.00. In the options market, sentiment is bearish with volume running five times the usual. 14,000 STT puts and 3,400 calls have traded, with active buying seen in the October 55, September 50 and October 60 puts.
About the Author (Author Profile)
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.