High Yield Bond ETF Sees Major Uptick In Options Activity
From Corey Rosenbloom: File this under “interesting reference post,” as these are the top ten stocks and ETFs that traded the most Put and Call Option volume (and activity) on Monday, March 6.
Is your favorite name on this list? Is there anything surprising to you?
While it’s logical to see the SPY, QQQ, and even the IWM on the list, look beneath the big ETFs to find leading stock activity.
For example, Apple (AAPL) was the top stock (#2 total) at 387,842 option volume today while Bank of America (BAC) came in fourth overall at 284,583 options.
The most unexpected addition to the list today was the High Yield Bond ETF (HYG), which most traders may not be familiar with. This fund is likely seeing an uptick in activity due to anticipations of a Fed rate hike coming later this month.
Otherwise, AMD (see today’s update post on Advanced Micro) joined Facebook (FB) as the other top (option volume) stocks of the day.
You can use simple lists like this to spur trade ideas and get a sense of what other fellow traders are trading.
The iShares iBoxx $ High Yield Corporate Bond ETF (NYSE:HYG) fell $0.02 (-0.02%) in premarket trading Tuesday. Year-to-date, HYG has gained 1.32%, versus a 6.24% rise in the benchmark S&P 500 index during the same period.
HYG currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 36 ETFs in the High Yield Bond ETFs category.
This article is brought to you courtesy of AfraidToTrade.com.
You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)
Powered by WPeMatico