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发表于 2009-10-1 11:33 AM
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Consumer staples have been in a steady uptrend since their March lows, but today's option trading is looking for a return to lower levels.
The Consumer Staples Select Sector (XLP) exchange-traded fund is down 0.88 percent to $25.23 in late morning trading. There is support around $25 level, but the option trading is betting on a drop to levels last seen in April.
One trader bought 10,000 of the January 22 puts for $0.20 and sold 10,000 of the January 26 calls for $0.45. They took in a credit of $0.25, which will be kept with the shares anywhere between the two strike prices of $22 and $26. Below $22 they have significant potential gains, and above $26 they have the exposure of the short calls.
This trade might have been done against long stock, but given the strikes it seems unlikely, as the position is so bearish that there is little to no upside in having long shares against it. So it looks like an outright bearish play that profits most from a return to the lows of March. |
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