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On CNBC's "Options Action," Mike Khouw spoke about high put options activity in VanEck Vectors Semiconductor ETF (NYSE:SMH) as puts outnumbered calls 3 to 1 on Tuesday.
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One trade caught Khouw's attention during the trading session. There was a purchase of 1,130 contracts of the March 22, weekly 107 strike puts for $0.94. The trade breaks even at $106.06 or 1.02 percent below the closing price on Tuesday. The trader is betting that the stock is going to trade lower by the end of the week, explained Khouw.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.