Size four-way put spread in SPDR Retail Trust as shares extend losses.
Size four-way put spread in SPDR Retail Trust as shares extend losses. The ETF off 23c to $41.47 and at multi-month lows after a 9.2% MTD drop. One player sells 5.8K Jun 40 - 44 put spreads for $2.21 and buys 15.7K Jul 38 - 41 put spreads for 80c. The Jun 40 - 44 ps apparently closes from 4/23 when 5.4K bought for 93c (some also opened on 4/24). The investor is covering the vertical to monetize profits, while now opening a new larger position in lower strikes in the July term. The adjustment expresses concerns about additional losses in the retail store sector in the two months ahead.
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|Date:||May 24, 2019|
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