Option Traders Turn Bearish On The US Dollar

Option Traders Turn Bearish On The US Dollar

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Invesco DB US Dollar Index Bullish Fund ETF UUP traded 7 times its average daily put volume on Monday.

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There were buyers of 30,500 of the October 30 puts at $0.25 per contract, Khouw mentioned. Traders expect the Invesco DB US Dollar Index Bullish Fund ETF to fall below $30 before October expiration, “giving up some of these recent gains,” he added.

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UUP Price Action: Shares of the Invesco DB US Dollar Index Bullish Fund ETF climbed 1.12% to close at $30.66 on Monday.

Posted In: CNBCMichael KhouwOptimize AdvisorsShort IdeasOptionsMarketsMediaTrading Ideas