Crypto Whales Are Loading Up — Are You?
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On CNBC's "Options Action," Mike Khouw said that SPDR S&P Oil & Gas Exploration & Production ETF (NYSE:XOP) traded six times its average daily put options volume on Thursday.
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During the session, he noticed that a trader sold to close 15,000 contracts of the September $73/$50 put spread to buy 22,000 contracts of the March $70/$55 put spread. The trader has spent $5 million in incremental premium to roll the position to March. This is either a big hedging trade or a big bearish bet, said 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.