45500 XME Sep 15/20 put spreads went up in two blocks on the PHLX
Shares of the SPDR S&P Metals and Mining ETF (XME) are down .19 to 22.65 today. ?XME is near the middle of the 52 week range.
- Paper traded 45500 XME Sep 15/20 put spreads for 1.12. ?
- The ADV is 30k contracts.? ?
- The open interest is less than 2k contracts.?
The volume went up in two blocks on the PHLX marked.? Total volume is over 50k contracts as the trade is either hedging along or taking a massive short position in XME.? Since XME is up so much from the bottom the hedging scenario seems plausible although no stock went up with this trade.
- IV 30 is trading for 46%.?
- HV10 is trading for 41%.?
- IV 30 is above the HV 10.
SPDR S&P Metals & Mining ETF (the Fund) seeks to replicate as closely as possible the performance of the S&P Metals & Mining Select Industry Index (the Index). The Index is an equal weighted market cap index.