U.S. Bears Are Targeting Euro-Area ETF Like Never Before: Chart

Bears are targeting a U.S.-listed exchange-traded fund that follows euro-area equities. A record 95,350 put options on the SPDR Euro Stoxx 50 ETF changed hands on Friday as a trader bought 45,000 March/May $33 put spreads on the security, which is mostly composed of French stocks. The investor is preparing for a rise in volatility after next month’s expiration and a potential drop by May, Susquehanna International Group analysts wrote in a note to clients, saying the trader may be positioning for a move from the French election.

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