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Notable option spreads in SPDR Oil Exploration and Production Fund.

Notable option spreads in SPDR Oil Exploration and Production Fund. Shares off 25c to $26.50 and 15K Jun 24 - 30 put spreads sold at $3.11. The vertical trades 30K and appears to cover 75% of a position opened 11/14 when the same thing was bought for 71c. If so, closing 30K at $3.11 today monetizes $2.40 per spread, or $7.2M in profits. Separately, 14.5K Jan 29 calls trade 47c along with 26K Jan 30 calls at 24c, which appears to be bullish ratio spread (possibly a roll down in strikes) in anticipation of a rebound in the energy sector over the next few weeks.

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Publication:The Fly
Date:Dec 28, 2018
Words:111
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