UUP Call Volume Surges As Investors Bet On Major Rise In Dollar
By Tyler Durden | February 05, 2010 | 2:29 PM | 3 Comments
Assuming some massive UUP March call position is not being rolled, today was the second biggest volume day in UUP March Calls ($23 strike) ever. We believe this is not a roll as the trade did not have the pre-negotiated look of a usual roll, which does not move the actual price of the option itself materially. The March $23 strikes have been trading in a wide range opening just north of $0.70 and last traded $0.79/0.80. This is a major bet on future dollar strength. And, by implication, a leveraged bet on major market downside.
h/t Bill
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