$JETS put prices fly

$JETS put prices fly


Bearish option traders are collecting big profits in the US Global Jets ETF (JETS) today.

On Aug. 9Market Rebellion’s Unusual Activity Service found that 3,500 December $19 puts were bought for $0.63 above the existing open interest of 238 contracts with shares at $20.59.

Those puts have traded for as much as $3.70 this session, a 487.3% return, while the stock fell 25.69% in the same time frame, illustrating the kind of leverage that can be achieved quickly with options.

Long puts lock in the price where a stock can be sold no matter how far it might drop, gaining value in a selloff with the potential for significant leverage. The contracts can be purchased either as an outright bearish bet or a hedge on a long-stock position.

JETS ended the session up 0.4% at $15.19 today.

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