Massive spreads printing in Technology ETF XLK this afternoon, with half a million contracts trading in the past 15 minutes in the form of two vertical put spreads. First a seller collected 31cents for about 100,000 Dec 20-23 put spreads on the ISE, and a few minutes later a buyer paid 65cents for 150,000 March 20-23 put spreads on the ISE and PHLX. Looks to roll part of the large protective put spread bought in early oct for 68cents out to March.
Category: All ETFs
About the Author (Author Profile)
Henry Schwartz is the president of Trade Alert LLC, a provider of real-time options analysis tools to leading Wall Street firms. His systems analyze hundreds of thousands of transactions per second to help professionals identify and interpret market activity in real time, supporting informed trading decisions and intelligent idea generation. He has held institutional trading and management roles with Bank of America, Bear Stearns, Salomon Brothers and the Hull Group, and made markets on the CBOE and AMEX floors in the US, and EUREX and MONEP overseas. Prior to founding Trade Alert, he led the electronic market-making group at Bank of America coincident with the launch of the International Securities Exchange. He received his bachelor’s degree in Economics from the University of California, San Diego and his MBA from NYU’s Stern School of Business.