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December 11, 2013  Wed 10:10 AM CT

LQD: SEE CHART GET CHAIN FIND STRATEGIES
A trader is positioning for lower prices for the iShares iBoxx Investment Grade Corporate Bond Fund.

optionMONSTER's Depth Charge system detected the purchase of 3,000 January 113 LQD puts for the ask price of $0.70. The volume dwarfed previous open interest of just 22 contracts and the total daily average of 205.

The put buying isn't tied to any trading in the underlying that we can see, though it could be a hedge on an existing long position in the LQD. Alternatively, it could be an outright bearish bet that the exchange-traded fund will head back to its September lows. (See our Education section)

The LQD is down fractionally to $114.09 this morning, in the middle of its recent range. It was below $113 last in September as it came off the 52-week low of $110.73.
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Market Level Making You Nervous, Huh? Part 3

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