He recommended them to buy the August 250/210 put spread
trader returns for another earnings play in Lumber Liquidators.
Massive put spread
in Russell ETF is largest trade of the morning.
Size put spread
buyer in Emerging Markets ETF adjusts existing hedge.
Size four-way put spread
in SPDR Retail Trust as shares extend losses.
Shares off 18c to $20.97 with a large spread trading on the BOX, where the June/Sep 21 put spread
traded 2100x for 2.10 in what appears to roll short puts out three months.
Four-way put spread
in Regional Banking ETF adjusts a defensive position.
Spread printed on the CBOE just after 1:30PM ET, with a trader apparently selling 30K Sep 95/101 put spreads
for 13c against a buyer of 15K Sep 100/104 put spreads
in Bed, Bath and Beyond as bearish positions are adjusted.
The bulk of the activity is the result of one time spread: 5K Jun - Jul 5 put spreads
bought for 15c with shares trading flat at $6.05 and probably rolls a 5K lot of Jun 5 puts opened 31c on 3/20 with shares $6.23.
With shares off 16c to $52.43, 31K Jun 45 - 51 put spreads
sold at 70c to buy 31K Aug 44 - 50 put spreads
With USO now down 16.3% in the past two weeks, 38.1K Oct 12 - Dec 10.5 put spreads
trade 55c Monday and the diagonal spread likely rolls long puts to December from October, down 1.5 strikes, in anticipation of further losses in shares over the next six months.