On CNBC’s “Fast Money Halftime Report,” Jon Najarian said silver traded higher after Trump’s tweets. He noticed a lot of options activity in precious metals, especially silver. Options traders were buying the April $16 calls in iShares Silver Trust (NYSE: SLV).
There was also a big put options volume in PowerShares QQQ Trust, Series 1 (NASDAQ: QQQ). Traders were buying the Oct. $178 puts and they sold the Oct. $159 puts. Najarian explained that they used the put spread because they thought that the implied volatility was too high.
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