Market Overview

Dan Nathan Sees Unusual Options Activity In Sector Spdr Trust Sbi


On CNBC's Options Action, Dan Nathan spoke about unusually high trading activity in Sector Spdr Trust Sbi (NYSE: XLI). 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.


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Posted-In: CNBC Dan Nathan Options ActionLong Ideas Options Markets Media Trading Ideas

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