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Options Traders Expecting Short-Term Downside For ARK Innovation ETF

Published 11/10/2022, 13:18
Updated 11/10/2022, 14:11
© Reuters.  Options Traders Expecting Short-Term Downside For ARK Innovation ETF

© Reuters. Options Traders Expecting Short-Term Downside For ARK Innovation ETF

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that ARK Innovation ETF (ARCA: ARKK) traded at 1.4 times its average daily options volume on Monday. With over 200,000 contracts traded, it “was the ninth-busiest ETF option today,” he added.

Check out other stocks making moves in the premarket.

There was a buyer of 3300 of the October 32 puts at an average price of 45 cents per contract, Khouw mentioned. “There were a lot of big trades,” he stated. The trader expects the ARK Innovation ETF to decline by more than 13% by weekly expiration, he added.

ARKK Price Action: ARK Innovation ETF declined by 3.28% to settle at $36.30 on Monday.

Now Read: Ford, General Motors (NYSE:GM) Shares Slide As 'Demand Destruction Seems Inevitable'

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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