Traders Expect More Losses To Come For This US Airlines ETF

U.S. Global Jets ETF JETS continued its downtrend, shedding close to 4% over the last five trading days.

On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that U.S. Global Jets ETF traded more than three times its average daily put volume on Thursday.

The most active trade was in the February 19.86 call spreads, Khouw mentioned. Over 12,000 of these traded for an average price of 31 cents per contract, he added.

“It appears that the buyer of those puts is either betting on or hedging against a move back towards those December lows,” Khouw said.