On CNBC’s “Options Action,” Mike Khouw said iShares MSCI Emerging Markets ETF (NYSE: EEM) traded more than seven times the average put options volume on Wednesday and all of that was related to a very large block of puts that traded.
The December $49, $40 and $25 puts each traded just under 250,000 contracts, said Khouw. Someone was basically either shorting or putting a hedge on approximately $1.25 billion notionally of the emerging market exposure, explained Khouw.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.