Dan Nathan Sees Unusual Options Activity In Sector Spdr Trust Sbi

On

, Dan Nathan spoke about unusually high trading activity in

. The options trading volume was 5 times higher than its daily average and in the morning session, when the stock traded at $57 a trader bought 25,000 of the December 56 puts, paying $0.49. The trade breaks even at $55.51 or approximately 3 percent lower at the December expiration. Nathan explained that the stock had a monster move higher recently and the breakeven for the trade is set at the break-out level. He added that this trade could be a cheap way of getting protection or a directional bet that the underperformers in the space are going to continue to struggle.