Friday July 31, 06:36 PM
STOCKS NEWS US-Option traders eye puts in currency ETF
Stocks on the move Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1308 ET 31July2009 Option traders circle puts in currency FXY ETF
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The U.S. dollar is down against the yen and therefore the CurrencyShares
Japanese Yen Trust, an exchange-traded fund which moves inversely to
dollar/yen, is up 97 cents to $105.16 per share. FXY options volume is six
times the norm with most of the action in the Sept 98-101 put spread, which has
traded 2,500 times on the International Securities Exchange, said
WhatsTrading.com option strategist Frederic Ruffy. He noted it looked like a
buyer paid a premium of 60 cents per contract. ISEE data indicate that half are
opening customer buyers. 'So, it appears to be a bearish short-term bet against
the Japanese currency,' Ruffy said.
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