iShares Long Term Bond Fund (TLT) falling to session lows, down $2.61 to $111.30, and to multi-month lows. The move is testing a late-Oct closing low of $111.46 (intraday low of 110.76 was recorded that day). TBT volume is heavy at 12.8 million shares, or almost 3X the expected. TBT (inverse bond fund) is seeing 2.5X the daily average options voulme, with 128K calls and 25K puts traded in the product. Share volume in the inverse fund is 18.1 million. Typical volume is 5 million.
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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.