Puts Purchased on the Transports (IYT)
Shares of the iShares Dow Jones Transportation Average Index Fund (NYSE: IYT) are lower on the session by 1.13%, currently trading at $79.00. The ETF has been moving largely lower, in a downward-trending channel over the past three months, but has broken out of that channel to the upside as of late.
Options traders are buying protection on the ETF today. The September $77.00 put was purchased 3,500 times on open interest of 1,116 contracts and the September $76.00 put was purchased 1,400 times on open interest of 67 contracts.
Put volume is currently running at 13.68x the daily aveage.
The iShares Dow Jones Transportation Average Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones Transportation Average index. The fund uses a representative sampling strategy to try to track the index. The index measures the performance of the transportation sector of the U.S. equity market. The index includes companies in the following primary groups: airlines, trucking, railroads, air freight, transportation services and industrial services. It is nondiversified.
