Thursday, October 22, 2009

Huge Volume of November IWM Puts Traded

There was very heavy activity buying November IWM puts today. Somebody was betting very heavily on a market correction. Whoever bough these contracts has lost a lot of money so far:

Nov 58: 10,941 contracts, Loss of $400,000.00
Nov 59: 33,576 contracts, loss of $1,600,000.00
Nov 60: 32,561 contractrs, loss of $1,900,000.00
Nov 61: 10,941 contracts, loss of $800,000.00

These are average losses and assumed contracts were all bought (some may have been closed, we have to see tomorrow, but the open interest remains very large).

Here are the Nov 59s chart:

(click to enlarge)

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