Trade counts on floor under India ETF
Chris McKhann | [email protected]
optionMONSTER systems show that a trader sold 6,000 July 17 puts for $0.30 and $0.35. The volume was above the strike's open interest of 5,063 contracts, indicating that this is a new position.
This put selling is a bet that the EPI will remain above $17 through expiration in five months. The trader is also showing the willingness to buy shares of the exchange-traded fund if they are below that strike price. (See our Education section)
The EPI currently trades at $19.48, unchanged on the day. Shares of the fund had been trending higher from below $16 since last May and were above $20 into the first day of the month, but they have fallen since then.
More than 6,250 EPI options have changed hands so far today, compared to a daily average of 860. Almost all of the action was in those July 17 puts.