SPDR Energy Fund draws increased put activity. The ETF is off $1.69 to $92.10 and an investor sells 13,000 Oct 95 puts on XLE at $3.10 to buy 27,800 Jan 89 puts for $2.30. The Jan 89s open and the Oct 95s are probably closing. That is, the ratio spread is rolling a block of [...]
The largest options trades so far today are in the small cap index, which is down 1.3% to $112.50 and has now dropped 2.5% year-to-date. A Dec 98 – 109 put spread on IWM trades for $2.12, 30983X on PHLX. Looks like a buyer and probably a type of hedging strategy against a portfolio for [...]
Put ratio spread in the Retail ETF. XRT is off $1.25 to $87.29 and the Oct 82.5 – 87.5 2X1 is bought for 90 cents, 10000X. The new position seems to be targeting a move to $82.5 through the Oct expiration, or 5.5% in 25 days.
Interest in the gold miner ETF continues. Shares are off 40 cents to $22.26 and setting new multi-month lows. A sweep of 8,130 Dec 25 calls on GDX prints for 47 cents when the market was 44 to 47 cents. More than 20,000 were opened at that strike Friday (see 9/19 color) and today appears [...]
Opening print in the China Fund. FXI is down 34 cents to $39.94 and a 40000-lot of Weekly (10/3) 37.5 puts on the ETF trades for a dime when the market was 7 to 10 cents. 50,700 traded at that strike against zero open interest. It might be replacing some deep OTM puts in the [...]
Big print in the small cap ETF. While the Dow and S&P sit near record levels after another week of gains, the iShares Russell ETF (IWM) is down $1.12 to $114.31 and sits 5.5% below its early-July highs. On the options front, a 50000-lot of Oct 111 puts on the ETF is being bought for [...]
Active trading in Market Vectors Gold Mining calls. The ETF is off 40 cents to $22.73 and falling to three-month lows after a one-month 15.8% rout. In options action, recent trades on GDX include a sweep of 5,047 Oct 23.5 calls for 41 cents when the bid-ask was 38 to 41 cents. 12,870 traded at [...]
Another big print in the China ETF looks similar to one from yesterday. A 47000-lot of Dec 42.5 calls on FXI was sold-to-open Wednesday (see 9/17 color). Shares are down 12 cents to $40.22 today and 47,600 Dec 42 calls on the ETF are sold at 78 cents, to open. The interest in upside Dec [...]
Oct 42 puts on the Emerging Markets Fund are today’s most actives. An investor sold 130,000 contracts at 28 cents each. With shares up 18 cents to $43.91, it appears to cover a 130000-lot bought for 54 cents in July (see 7/22 color). If so, the liquidating activity is reflecting diminishing concerns about a decline [...]
Early trades in the Emerging Markets ETF, as an investor sells the Dec 42 – 48 (1X2) call ratio spread at $2.35, 10000X (bought 20,000 of the Dec 48s). It might close or possibly roll a position up in strikes.