On CNBC's Fast Money Halftime Report, Jon Najarian spoke about unusually high bearish options activity in iShares Russell 2000 Index (ETF) IWM. He said a trader bought 25,000 contracts of the April 135/120 put spread and sold 25,000 of the April 155 calls against the put spread.
Najarian thinks this was probably a hedge fund or a big trader that is trying to protect a long position in iShares Russell 2000 Index (ETF).
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