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Traders pile into energy puts as oil hits 2017 low

Published 05/03/2017, 01:08 PM
© Reuters.  Traders pile into energy puts as oil hits 2017 low
SCO
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UCO
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UHN
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DTO
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XOP
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SZOXF
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BNO
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OILold
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OIL
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DBO
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USL
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USO
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DNO
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DWT
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UWT
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OLO_old
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UGA
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WTID_old
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WTIU_old
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OILX
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  • Oil's down just a hair this session despite somewhat bearish EIA inventory data, but at $47.62 is down about 12% in less than a month and at its lowest level since November.
  • Put volume is spiking today, with 140K USO June $9.50 puts purchased for $0.27 each vs. previous open interest of about 30K, according to Bloomberg.
  • Overall USO put volume today is 2.5x the 20-day average.
  • There's also 80K June $33 puts purchased for $0.80 each for the SPDR S&P Oil & Gas Exploration & Production (MX:XOP) ETF (NYSEARCA:XOP). Put volume in XOP today is 1.9x the 20-day average.
  • ETFs: USO, OIL, UCO, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, UHN, SZO, OLEM, DWT, OILK, OILX, USOI, UWT, WTID, WTIU
  • Now read: An Anemic Year For Gas Prices


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