Seeing some bigger put buyers in the SPYders in recent trades. One player recently bought 26.5K July 95s at 30 cents each. Not long before that, a block of 22K July 98 puts was bought at 45 cents. Also saw interest in the SPY July 95 – 100 – 105 put fly this aftenroon. One player paid 32.5 cents on 12K. The interest comes as the S&P 500 falls 17 points and sits two points off session lows. Today’s existing home sales data were very poor. New home sales and the FOMC rate announcement add some event risk for tomorrow.
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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.