Dow Jones Transports ETF (IYT) adds 4 cents to $89.55 and a Jun 85 – 90 put spread is bought ont he ETF for $1.675, 2000X, to open. The bearish play comes after a 2.7 percent bounce in IYT yesterday.
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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.