The biggest trade so far today is in the SPDR 500 Trust (SPY) after 40,000 June 134 calls were sold on the ETF at 65 cents per contract on PHLX. Shares are down 15 cents to $132.95 and the big block is probably a liquidating trade. The contract is .8 percent OTM with four days of life remaining and 167K in open interest. The hefty premium sale might reflect diminishing expectations for another market rally through Friday. SPY had its best weekly gain for 2012 last week after gaining nearly 4 percent.
Category: All ETFs
About the Author (Author Profile)
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.