Whopper of a putspread on the Financial Sector ETF this morning, as a buyer paid 47 cent to open 104,000 July 12-14 put spreads on the AMEX (crossed by Hamilton Executions). Premium totals nearly $5million and this is the largest block seen since mid December when most likely the same trader rolled the 11-13 put spread in from Dec to Jan 130,000x on ARCA.
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.