On CNBC's Options Action, Mike Khouw said that he noticed unusually high options activity in iShares Barclays 20+ Yr Treas.Bond (ETF) TLT on Tuesday.
The options trading volume was twice the average daily volume and put options significantly outnumbered calls. One big bearish trade caught Khouw's attention. A trader bought 2,500 contracts of the January 131.50 puts for $1.55. The trade becomes profitable below $129.95, or approximately 1.5 percent lower, and it expires in two and a half weeks.
Khouw added that he is considering buying puts in iShares Barclays 20+ Yr Treas.Bond (ETF) if it stays at its highs.
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