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Four-way put spread in Regional Banking ETF adjusts a defensive position.

Four-way put spread in Regional Banking ETF adjusts a defensive position. The stock off 14c to $56.50 and 38.5K Jun 45 - 51 put spreads trade 31c along with 43.1K Jun 48 - 54 put spreads for 73c. The Jun 48 - 54 put spread is opening and the Jun 45 - 51 put spread apparently closes a matching print from 4/9 when $1 was paid to buy Jun 45 - 51 put spreads, 38500X. The activity rolled out of Jun 42 - 48 put spreads with shares near $53 at that time and now the position is again being rolled to higher strikes, while increasing position size. The adjustment expresses concerns that the regional banks will give back recent gains over the next 46 days. The next round of earnings from the sector not until mid-July.

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Publication:The Fly
Date:May 6, 2019
Words:135
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