SPDR Retail Trust (XRT) puts are active for a second day. With shares up a nickel to $26.12, one player sold 5000 Sep 20 – 22 put spreads at 20 cents to buy 2500 Sep 19 puts for 20 cents. Looks like this three legged strategy traded more than once. Meanwhile, the July 26 – 24 – 22 put butterfly spread discussed yesterday traded another 25000X. Perhaps a closing the spread already? ISEE says, No, opening buyers on half the trades. So, the strategist is possibly adding to yesterday’s position, which would bring the total position to 50K (100K on the body).
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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.