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Thursday, February 1st 2024

Matt Amberson Quoted by Reuters on KRE Banking ETF

See how KRE has been impacted by the news of NYCB and get a glimpse of the latest time and sales data.

Summary

The SPDR S&P Regional Banking ETF (KRE) has been negatively affected by problems in commercial lending at NYCB New York Community Bancorp. Implied volatility has increased since the news, with option volume and trading activity significantly higher than usual.

KRE the SPDR S&P Regional Banking ETF has seen a lot of negative action recently. Dragged down by problems from commercial lending at NYCB New York Community Bancorp, KREs options have been busy.

Implied volatility is way up since news of NYCB has come out Tuesday after the bell.

Tuesday, before the fall 5% yesterday, IV was 27.5%. Yesterday IV was around 30%. Today, IV hit a high of 38%, and we saw significant vol selling sending IV down to still high levels of 35%.

Volume is heavy at almost five times usual.

Option volume today:569,818 Option volume 20d avg:109,000 Option volume today / 20d avg:5.2x

Traders are neutral delta, short options premium, unprofitable, and could be opening or closing positions based on the assessment of trades today.

Net Dollar Delta -2,263,575 Total Long Dollar Delta 67,599,684 Total Short Dollar Delta -69,863,259

Total Premium ($) -5,482,875 Total Bought ($) 5,997,822 Total Sold ($) -11,480,697

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