Option Traders Turn Bearish On The US Dollar

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Invesco DB US Dollar Index Bullish Fund ETF UUP traded 7 times its average daily put volume on Monday.

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There were buyers of 30,500 of the October 30 puts at $0.25 per contract, Khouw mentioned. Traders expect the Invesco DB US Dollar Index Bullish Fund ETF to fall below $30 before October expiration, “giving up some of these recent gains,” he added.

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UUP Price Action: Shares of the Invesco DB US Dollar Index Bullish Fund ETF climbed 1.12% to close at $30.66 on Monday.