Could iShares NASDAQ Biotechnology Index (ETF) Rise More? The Stock Had Bearish Options Activity

 Could iShares NASDAQ Biotechnology Index (ETF) Rise More? The Stock Had Bearish Options Activity

In today’s session iShares NASDAQ Biotechnology Index (ETF) (IBB) recorded an unusually high (402) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious IBB decrease. With 402 contracts traded and 2834 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: IBB161021P00282500 closed last at: $4.3 or 28.3% down. The ETF decreased 0.60% or $1.74 during the last trading session, hitting $288.26. About 849,660 shares traded hands. iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) has risen 9.32% since March 1, 2016 and is uptrending. It has outperformed by 0.08% the S&P500.

iShares Nasdaq Biotechnology ETF , formerly iShares Nasdaq Biotechnology Index Fund, is an exchange-traded fund (ETF). The ETF has a market cap of $7.55 billion. The Fund seeks investment results that correspond generally to the price and yield performance of the NASDAQ Biotechnology Index (the Index). It has a 3.17 P/E ratio. The Index contains securities of NASDAQ listed companies that are classified according to the Industry Classification Benchmark as either biotechnology or pharmaceuticals, which also meet other eligibility criteria determined by NASDAQ.

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