Dan Nathan Sees Unusal Options Activity In Energy Select Sector SPDR (ETF)

, Dan Nathan spoke about options trading in

. Nathan said that when the ETF was trading at $83 a trader decided to sell some puts, specifically, 5,000 contracts of the June 75 puts were sold to close. He added that the trader decided to exit a bearish trade because of the recent run higher. Technical indicators are looking better and implied volatility is going down, explained Nathan.