The largest trades today are large blocks of July puts on sector fund and appears to be part of large hedging strategy. SPDR Industrials (XLI) is off 7 cents to $34.55 and failing to rebound from yesterday’s 2 percent slide. One player seems to be bracing for further losses, as a 42000-contract block of July 33 puts trades on the ETF for 34 cents per contract on ISE. A customer bought to open, according to ISEE. A separate 22000-lot of July 32 puts traded on XLI for 19 cents on ISE and was also an opening buyer. XLB is off a penny to $34.01 and 45600 Jul 32 puts traded for 31 cents on ISE, also an opening buyer. SPDR Oil and Production Fund (XOP), which sank 5.3 percent yesterday following the 4 percent drop in crude, is up 15 cents to $45.41 and a 27500-lot of July 44 puts trades on ETF for $1.45 on CBOE. SPDR Retail Trust (XRT) ticks 2 cents higher to $57.58 and 17,500 Jul 55 puts trades on the ETF for 78 cents on CBOE. SPDR Metals and Mining ETF (XME) slips 7 cents to $39.11 and an 8200-lot of Jul 38 puts tardes for $1 on CBOE. iShares Real Estate ETF (IYR) is off 7 cents to $61.56 and a 5400-lot of Jul 57 puts trades on the fund for 34 cents on AMEX.
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.