Volatility trader targets real-estate fund
Chris McKhann | [email protected]
The IYR trades at $54.94. it is down 0.94 percent but remains in the range that has been in place since shares bounced off support just above $51 at the end of November.
Topping today's option volume in the IYR is one print in the March 50 puts, where a single block of 7,500 was apparently bought for $1.90. About a minute later 150,000 IYR shares changed hands for $55.03.
The stock trade would create an overall position that is largely delta-neutral, meaning that it could profit if IYR breaks either higher or lower. (See our Education section)