Dan Nathan Sees Unusual Options Activity In SPDR S&P Metals and Mining (ETF)

Dan Nathan spoke

about a high options activity in

on Thursday. The options trading volume was three times higher than the average daily options volume and the most of the traded volume was in puts, explained Nathan. When the ETF was trading at $22.85, he noticed that there was a buyer of 50,000 contracts of the September 20/15 put spread for $1.12. The break even for the trade is at $18.88 or 16 percent lower from the current price and it can maximally make a profit of $3.88. Nathan said that this trade could be a bearish bet or a hedge.