Sr. Correspondent, Broker Research, Bangalore, India
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Nov 28, 2014
Nov 28, 2014
Nov 28, 2014

Plunging oil prompts massive options action in energy ETF

NEW YORK, Nov 28 (Reuters) – Activity in the options on the
Energy Select Sector SPDR Exchange-Traded Fund exploded
on Friday as traders who had bet on a drop in the ETF scrambled
to book hefty profits a day after OPEC decided not to cut oil
output.

One trader was estimated to be pocketing $25 million on a
block of puts on the XLE bought just 10 days ago, according to
market watchers.

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    • About Saqib

      "Saqib Ahmed is an options correspondent working with the Markets team in New York. He previously led the Reuters Broker Research team in Bangalore. He joined Reuters in 2009 after graduating from the Asian College of Journalism."
      Joined Reuters:
      2009
      Languages:
      English, Hindi, Bengali
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