Friday, January 22, 2010

(XLB, XRT, XLY, KRE) - Buying Puts in Materials, Retail, Discretionary and Banks

The prior blog noted a massive call buyer in the Ultra Short Basic Materials (SMN) yesterday followed by a put purchase in the normal Materials SPDR today. That blog is viewable HERE.

The VIX jumps 6+ points in 3 days - so what's the breadth? Try this:

XLB - Materials Select SPDR - 90,000 OTM puts purchased
XRT - S&P Retail SPDR - 120,000 OTM puts purchased
XLY - Consumer Discretionary SPDR - 140,000 OTM puts purchased
KBW - Regional Banking ETF - 60,00 OTM puts purchased

These were all done in March options and were all 600% - 1800% of the total daily average option volume done in less than 2 hours. Keep in mind, these may be hedges for long market positions.

All four Company Tabs are included below with highlighted sections of importance. Click each one to enlarge.

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