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Shares of the J.P. Morgan Chase & Co. Alerian MLP Index ETN
AMJ are lower on the session by 0.24%, currently trading at $32.92. The ETN has been moving largely higher over the past six months, hitting a new 52-week high earlier in today’s session.
Options traders are buying protection on the ETN today, though. The August $32.00 put was purchased 2,025 times, on the offer, a short while ago; open interest on the strike is only 1 contract. This signals new, bearish positioning on the name.
Put volume is now running at 49.05x the daily average.
The J.P. Morgan Chase & Co. Alerian MLP Index ETN seeks to replicate, net of expenses, the Alerian MLP Index. The index tracks the performance of midstream energy Master Limited Partnerships.
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