Put Activity In $FXY (March, June 2011), Japanese Yen ETF

| |
FXY (Japanese Yen ETF) puts were active today (read this optionmonster.com article for more information). FXY closed at 118.43 today.

In January 2011 (not pictured), 2,000 $135 Calls traded with 186 open (closed -0.25 to 0.05) and 1,000 $125 Puts traded with 21 open (closed -0.65 to 7.05). In March 2011, 1,500 $119 Puts traded with 137 open (closed +0.35 to 3.05) and in June 2011, 5,000 $115 Puts traded with 106 open (closed +0.65 to 2.55).

Is this trade hedging (or betting on) a continued slide to $115? FXY just rallied to the 50 day moving average resistance level and sold off. I'm also watching the NIKKEI:SPX ratio (and USD/JPY). Optionmonster also mentioned FXY volatility. Charts and option chain snapshots after the jump.

FXY (CurrencyShares Japanese Yen Trust) (StockCharts.com)


1,500 March, 2011 $119 FXY Puts With 137 Open Interest (OptionMonster.com)


5,000 June, 2011 $115 FXY Puts With 106 Open Interest (OptionMonster.com)