Paper bought 11,800 SPXS July 14 calls for 1.75 in multiple large blocks lifting the offer.
Direxion Daily S&P 500 Bear 3x Shares, trading 14.99 (down .17) with an n IV30 of 43.92 and an HV10 of 22.44, is seeing bullish action.? The ETF, with an ADV of 3,900 and an open interest of 86,000 contracts, saw a customer buy the July 14 calls which are in the money.? A customer bought 11,800 of the July 14 calls for 1.75 in multiple large blocks lifting the offer.
The ETF is triple levered bearish the S&P 500 thus this trader is betting serious dough that the SPX is going to be dropping quickly as the more time passes the more this trade loses as the daily inverse causes this ETF to become less sensitive to movement.? This could be one of the reasons the trader went in the money instead of OTM.? The customer does extremely well if the S&P 500 drops significantly in the next few days.
This call buying is AGGRESSIVELY bearish the market and bullish market volatility.