SPDR Regional Bankiing ETF (KRE) is up 14 cents to $28.30 and a 5000-lot of Jan 28 puts is bought on the ETF for $1.23 per contract on ISE. Opne interest is already 10k and the largest position in the product after 10,000 traded for $1.23 on ISE Friday. Data from the exchange indicate a customer is buying to open. KRE fell 2.7 percent to test a 50-day EMA Friday following post-earnings drops in JPM and WFC. Jan 28 put buyers seem to be bracing for additional weakness in the sector through yearend.
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.