iShares Emerging Markets Fund (EEM) loses 9 cents to $37.24 and a Sep 34 – 38 put spread is sold on the ETF at $1.49, 39000X on AMEX. The activity probably rolls a position in Sep 38 puts opened on May 11 when 39,800 were bought to open for $2.06. Shares are down from $40, or almost 7 percent, and the Sep 38 puts are being sold to close at $3.17. A new position in Sep 34 puts, representing $133 million in notional value, is being opened for $1.68. The activity is very similar to the hefty spread in the Qs today (see 12:43 color). Also, in both cases, the opening activity on May 11 was apparently rolling out of June put spreads (try EEM -10 and QQQ -10 and then 1).
Category: All ETFs
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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.