It looks like there was a large lot purchase of 6,000 November 54 Puts on the iShares Oil & Gas Exploration Index (IEO) today. According to the ISE data, this was a straight Put purchase and not part of a spread or hedged trade. It is not always certain in these cases, however, if there is an underlying stock position that could be part of a hedged position.
Something to keep in mind, as this security has very low open interest. When analyzing these types of trades to attempt to gain an edge, it will usually require further research and study to determine patterns of "smart" or "dumb" money ... or whether they may be hedge/volatility or other types of institutional trades that are not strictly directional based.
The Top 10 holdings of IEO as of 9/30/2009:
Something to keep in mind, as this security has very low open interest. When analyzing these types of trades to attempt to gain an edge, it will usually require further research and study to determine patterns of "smart" or "dumb" money ... or whether they may be hedge/volatility or other types of institutional trades that are not strictly directional based.
The Top 10 holdings of IEO as of 9/30/2009:
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