In one trade, paper sold 27,071 XLP Sep 53 puts at .07.? On the day over 30,000 puts have traded against OI of 41,000 contracts.
Consumer Staples Select Sector ETF, trading 54.80 with up .40 with an IV30 of 11.52 and an HV10 of 5.61, is seeing heave put action today.? The stock with an ADV of 20,320 and an OI of 537,000 contracts saw a customer in one trade sell 27,071 of the Sep 53 puts at .07.? On the day over 30,000 of these puts have traded against OI of 41,000 contracts.
This could be a customer that was using XLP to hedge that is now closing and choosing not to roll.? Or, alternatively this could be a trader that is selling these puts to collect the .07 of premium and/or take delivery of XLP below 52.93, which would be a 5% discount off of the current stock price.
In addition to these puts there have been active trading in October put spread as a trader bough the Oct 54/51 put spread tied up to stock.? This trade is likely a hedge.