On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSE:LQD) traded 10 times its average daily put volume, he added.
Check out assets making big moves in the premarket.
There was a buyer of 138,000 of the October 95/85 put spreads an average price of 50 cents per contract, Khouw mentioned. Traders expect this ETF to lose as much as 20% by October expiration, he added.
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