On CNBC's Options Action, Dan Nathan spoke about a high options volume in iShares Russell 2000 Index (ETF) IWM.
The options trading volume in the ETF was 3 times higher than the average daily options volume and the largest trade was a sale to close 40,000 contracts of the April 103/93 put spread for $0.61. Nathan explained that a trader closed a bearish position or removed a hedge.
He added that he has a bearish view on iShares Russell 2000 Index (ETF) and he is going to change his opinion only if he sees a break out above $110.
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