PowerShares QQQ (QQQ) is off 9 cents to $62.06 and a Sep 57 – 62 put spread is sold on the ETF at $1.64, 40000X. The action probably rolls a position in Sep 62 puts, bought to open, on May 11 for $2.53 per contract on ISE. Shares are down a little more than 4 percent since that time and the position is being liquidated at $3.52. A new position in Sep 57 puts, representing $228 mln in notionals, is being opened for $1.88 per contract.
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.