rain kraken
XLI is an industrial ETF top 10 holdings included in photo attached.
XLI over the last week has received ~100k put options contract inflow on March 28 $132 puts. Day 1 was about 37k buys, 32k sells, then day 2 was solid 70k buys, no sells. Call volume and open interest is a ghost town, these puts, plus some other minor put volume is really the only option volume going on.
The buys were at these points in the fist photo with the blue arrows. Interesting they chose to double down after the first leg down.
This could be a massive hedge for someone/fund against tariffs and could go nowhere. All the major companies in the holdings have already reported quarterly earnings.
As always do your own DD, this was just what I stumbled on. I will likely grab a contract just to see what happens.
stable thunder
