Investors Grow Bearish On Barclays After Oil ETN Suspension

Barclays PLC BCS Monday announced the suspension of the sales and issuance of two exchange-traded notes. The British bank said that the decision was based on capacity constraints and has nothing to do with the Russia-Ukraine crisis.

On CNBC's "Options Action," Mike Khouw of Optimize Advisors said the stock trading at more than six times its average daily put volumes. Puts outpaced calls by nearly 5-to-1, he added.

There were buyers of 4,500 of the April 8 puts for an average price of 32 cents per contract, Khouw mentioned. Buyers of those puts are betting that the American depository share (ADS) of Barclays will decline below $8 by April expiration, he said.