Options Signal More Pain In Financials, XLF Put/Call Ratio Highest Since June 2010

One bearish play, which yields maximum benefits if shares in the ETF drop more than 25% by December expiration, is one of the largest initiated on the XLF so far today. The trader profits on the spread if the XLF falls 14.7% to breach the effective breakeven price of $10.66 at expiration in December. Maximum potential profits of $1.66 per contract are available on the position should the price of the underlying plunge 28% to trade below $9 at expiration.

Source: http://www.forbes.com/sites/greatspeculations/2011/09/19/options-signal-more-pain-in-financials-xlf-putcall-ratio-highest-since-june-2010/

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