On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that ARK Innovation ETF (NYSE:ARKK) traded at 1.4 times its average daily options volume on Monday. With over 200,000 contracts traded, it “was the ninth-busiest ETF option today,” he added.
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There was a buyer of 3300 of the October 32 puts at an average price of 45 cents per contract, Khouw mentioned. “There were a lot of big trades,” he stated. The trader expects the ARK Innovation ETF to decline by more than 13% by weekly expiration, he added.
ARKK Price Action: ARK Innovation ETF declined by 3.28% to settle at $36.30 on Monday.
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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.