101K iShares Emerging Markets Fund Dec 40 - 44 put spreads trade at $2.80
101K iShares Emerging Markets Fund Dec 40 - 44 put spreads trade at $2.80. The ETF up $1.03 to $40.17 after setting 52-week lows yesterday and the ITM Dec 44 puts likely close a block opened 6/20 when 110K were bought for $2.35, which rolled long puts to the 44 line from the 46 strike with the ETF at $44.30. Shares have lost 9.3% since that time and 101K Dec 44 puts are being liquidated at $4.41 Friday to monetize $20.8M in profits. Rolling to the near-the-money Dec 40 puts today (open interest is enough to cover, but this is probably a new hedge) expresses concerns about further losses for global equities over the next ten weeks.