Puts Purchased on Crude Oil (DBO)
June 04, 2010 2:20 PM
Share of the POWERSHARES DB OIL FUND (NYSE: DBO) are lower on the session by 3.66%, currently trading $23.98. The ETF has been trying to regain the levels it sold off from in May, but has been largely unable to do so.
Traders are buying puts on the name today. The October $21 put was purchased 2,500 times; there was no open interest on the line. Put volume is now running at 37.86x the daily average with 98% of all puts traded being purchases on the offer.
The POWERSHARES DB OIL FUND seeks to track the price and yield performance, before fees and expenses, of the Deutsche Bank Liquid Commodity Index - Optimum Yield Oil Excess Return. The index is a rules-based index composed of futures contracts on Light Sweet Crude Oil (WTI) and is intended to reflect the performance of crude oil.
